Calyx feeling Better after emerging from administration

Better Capital acquires integrator one week after it entered administration, saving 300 jobs

Search and rescue: Better Capital has swooped in to buy Calyx, saving 300 jobs

Calyx has emerged from administration with its 300 staff intact after a deal was agreed with private equity outfit Better Capital.

A fund of Better Capital has acquired the trade and assets of certain subsidiaries of Calyx, a week after the Anglo-Irish integrator entered administration.

Certain Irish operations are also part of the deal.

The agreement re-unites Calyx with Better Capital frontman Jon Moulton, whose previous private equity outfit, Alchemy Partners owned a majority stake in the firm between 2007 and 2008.

Joint administrator Geoff Rowley of FRP Advisory LLP, said: “No redundancies have been made throughout the administration and the quick sale of the Group’s UK businesses has ensured an uninterrupted service to customers, as well as protecting the integrity and value of all businesses.

“With this level of stakeholder endorsement and the ambition of the group’s new owners, we hope to now see the business flourish.”