17.12.2006

Universal Spain

The business and assets of London based Universal Aerial Platforms have now all been sold, leaving KPMG to collect debtors and look at maximising the ‘dividend’ for ordinary creditors.

However one part of the business remains to be disposed of, The Barcelona based Plataformas Aéreas. The business has created a respectable amount of interest among local rental companies; however as of last week it remains unsold.

With revenues of £3.5 million in 2005 it generated pre tax profits of £320,000. The fleet numbered around 400 units when the group went into administration.

Vertikal Comment

It is odd that this segment of the Universal business has not been snapped up, given that it has carved out a reasonable market for itself in one of Europe’s more dynamic regions.

The slow closure might of course be down to the fact that most of Spain’s larger rental companies already have operations in Barcelona and would rather see Universal shut down than have to buy it?

If a company was looking to spread its wings and open up in a new area, they could do a lot worse than giving this a look over.