Around 160 jobs have been saved at a West Midlands logistics company following a rescue deal.
Amco Services (International) has been bought out of administration by CBW Resources in an undisclosed deal which has kept bases in Redditch, Worcester and Telford in operation.
Amco provides logistics and warehouse services across a wide range of industrial and commercial sectors including defence, automotive and consumer goods on a worldwide basis including land, sea and air freight.
Eddie Williams and Jon Roden, from financial services firm Grant Thornton, were appointed joint administrators of Amco and brokered the rescue deal.
Mr Williams said: "I am very pleased that we have been able to conclude a sale of the majority of the Amco operations to CBW with no redundancies of the workforce.
"The company has demonstrated historically that it is ideally placed to support its customers in the areas of complex logistics in both the UK and internationally.
"However, the company had been experiencing increasing cash and creditor pressure since early 2020 and was mid turnaround before the impact of covid-19 caused significant further disruption to operations which has led to this position.
"I would like to thank the management teams and all the stakeholders for their support and approach and I wish CBW every success in the future."
