Our Restructuring and Advisory Division secure the pre-pack sale of Home Control Solutions Limited
Nick Parsk, Director at business advisory firm Our Restructuring and Advisory Division, has secured the pre-pack sale of Home Control Solutions Limited (HCS) following an accelerated sales and marketing campaign.
Founded in 2012, HCS initially offered the design and installation of audio-visual systems into domestic premises but has since developed its offering over the last 10 years to become a smart home company incorporating several services including home automation, home cinema, lighting, multi-room AV, security & CCTV.
HCS works with a variety of clients ranging from architects, developers, contractors, and direct consumers. Before the Covid-19 pandemic, the company had diversified its offering to include commercial installs and undertook work across Europe and New York.
However, the onset of the pandemic resulted in a downturn in activity in the commercial sector, and the various lockdowns prevented technicians from entering domestic properties to undertake installs. Restrictions within the aviation industry also reduced the company’s ability to work overseas.
Following an accelerated sales and marketing campaign Our Restructuring and Advisory Division were appointed administrators on Wednesday 1 June 2022 and completed a sale on the same day to HCS European Limited. The quick sale has allowed continuity of trade to customers, resulted in an enhanced value for the assets of the company, and saved 8 jobs. Proceeds from the sale will also enable a return to the secured creditor.
Nick Parsk, Director at Our Restructuring and Advisory Division, said: “Lockdown restrictions had a serious impact on many commercial businesses, who found themselves unable to operate due to the measures that were put in place. As a firm that required working in close quarters on their clients’ premises and with restrictions on global travel, HCS was particularly vulnerable to those lockdown measures. As the economy begins to re-open, we are pleased that we were able to secure the sale, which allows the business to continue and also retains 8 jobs as a result.”
