A MANAGEMENT buy-out has helped save a car component firm and its 40 strong workforce.
Receivers had been appointed to Innovative Manufacturing Systems of Nelson at the beginning of the year and the future looked bleak for the 40 or so employees involved in the manufacture of special purpose machinery for the motor and aerospace industries.
Then the firm's Blackburn accountants Pierce recommended a business "angel" to help turn the firm's fortunes around.
A management buy-out deal was set up and a new firm, Intercraft, launched.
Mark Maden-Wilkinson, a partner in Pierce's entrepreneurial services, said: "We were pleased to be involved in this deal.
Local industries must be protected and jobs preserved wherever possible for our regions to flourish. We wish Intercraft continued success."
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