Sale of Power Plate International Limited secured
Duff & Phelps Ltd. secures sale for Power Plate International Limited
Sale saves future of the business
After a period of Administration in which Power Plate international Limited continued to trade as a going concern, Paul Clark and Philip Duffy, partners of leading global financial advisory and investment banking firm Duff & Phelps, acting as Joint Administrators to the business confirmed the sale of the Company and its assets to PPI Acquisitions LLC.
Commenting on the development, Paul Clark, partner at Duff & Phelps, says: “Duff & Phelps are pleased to confirm the sale and purchase of the Company’s business and assets to PPI Acquisitions LLC. Additionally, PPI Acquisitions has entered into an exclusive manufacturing agreement with the manufacturer of Power Plate products and will be the sole producer of the complete line of the Power Plate products. ”This is welcome news in securing the future for this well established quality UK based business.”
Power Plate International is considered the market leader, with more than ten years experience in Acceleration Training™ products and services. It is the only specialised company in its field to be a certified medical device manufacturer in this field.
Since its launch in 2000, the Power Plate machine has proved to be very popular and machines available in major health clubs, independent gyms, leisure centres, rehabilitation and wellness centres, spas and beauty salons, as well as dedicated Power Plate Studios.
The UK based manufacturer and distributor of Power Plate International is based in George Street, London and has been operating in the UK since 2006 with an annual turnover of c.£17m. However in recent years discretionary spend has been squeezed due to tighter household margins and the health and fitness industry, the Company’s primary market, have suffered as a result which led to it entering into administration on 24 September 2012.
About Duff & Phelps
As a leading global financial advisory and investment banking firm, Duff & Phelps balances analytical skills, deep market insight and independence to help clients make sound decisions. The firm provides expertise in the areas of valuation, transactions, financial restructuring, alternative assets, disputes and taxation, with more than 1,000 employees serving clients from offices in North America, Europe and Asia. Investment banking services in the United States are provided by Duff & Phelps Securities, LLC; Pagemill Partners; and GCP Securities, LLC. Member FINRA/SIPC. M&A advisory services in the United Kingdom and Germany are provided by Duff & Phelps Securities Ltd. Duff & Phelps Securities Ltd. is authorised and regulated by the Financial Services Authority. For more information, visit www.duffandphelps.com. (NYSE: DUF)