Cromwell reaches deal with Monks & Crane administrator
Maintenance, repair, and operations supplier Cromwell has reached agreement with the administrators of a competitor Monks & Crane to take on some of the company’s staff, assets and customer base.
Cromwell has signed a deal that will see some branches, stock, vending machines and most importantly some employees transferring over and in doing so have secured the continuation of supply to a number of customers. Around 40 of Monks and Crane employees, three branches (Hook in Hampshire, Heathrow and Cardiff), stock, vending machines, and some customers will be moving over.
Neil Jowsey, managing director at Cromwell, said: “Monks & Crane has been an admired competitor over the years and it is truly sad to see this happen.
“We have been working closely with the administrators and management of Monks & Crane to see how we could keep elements of their operations going, provide continuity of service for customers and, importantly, provide a home for some of their team. Our core purpose at Cromwell is to keep our customers’ operations running and their people safe. Monks & Crane’s customers have unfortunately had several uncertain weeks, so our focus is on getting support to them as quickly as possible.
“The newly acquired locations of Hook, Heathrow and Cardiff provide a great opportunity to accelerate our expanding customer footprint along with adding some key strategic customer accounts to our portfolio.”
Cromwell has been established for over 50 years and is a supplier of industrial supplies.
