JK Domestics, an appliance repair service based in Liverpool, has been acquired out of administration in a pre-packaged deal secured by Begbies Traynor which has saved 17 jobs.
The company, based in Wavertree, offered repair services on white goods across the region and was founded in 2010. Last year, the business saw its turnover reach £978,000.
The business suffered due to Covid-19 lockdown restrictions and being unable to enter people’s homes to repair appliances. Despite restrictions being lifted, JK Domestics was subsequently hit by a steep reduction in new orders resulting from the impact of inflation.
Begbies Traynor secured a pre-packaged sale of the business and certain assets to Pacifica, a fast-growing nationwide appliance repair service headquartered in the North East.
The largest independent appliance repair company in the UK, Pacifica undertakes more than 350,000 repairs every year and employs more than 240 engineers.
Pacifica partners with major manufacturer brands such as AEG, Zanussi, Electrolux, Sony, Hisense, Hoover Candy, Haier, Servis, Electra, Howdens (Lamona), LG, CDA, Miele and Liebherr. It also works with major retailers, such as Argos, Shop Direct and Buy It Direct as well as the UK’s largest insurance companies to provide technical service desk, spare parts fulfilment and repair services across the UK.
Scott Pallister, chief operating officer at Pacifica, said:
“This acquisition is a perfect, strategic fit for our company as we continue to grow. This deal means we’ve acquired a good business in the North West with loyal customers and excellent staff. We will continue to develop organically and through more acquisitions where they are an appropriate fit for our Group.”
Jason Greenhalgh, partner at Begbies Traynor, said:
“This deal is a good business move for everyone involved and Pacifica is well placed and resourced to handle even further growth in the region as it continues to evolve and deliver on its business plan.
“Many businesses and households in our region are getting hit by the inflation of raw materials, transport and energy costs. We predict more deals of this nature will happen as we progress towards the end of 2022.”
More Begbies Traynor News
Contact Begbies Traynor Group