Metalysis looks for buyer after administration

Eddie Williams, advisory partner at Grant ThorntonEddie Williams, advisory partner at Grant Thornton
Eddie Williams, advisory partner at Grant Thornton
South Yorkshire tech firm Metalysis has gone into administration after financial difficulties.

Eddie Williams and Chris Petts of Grant Thornton have been appointed joint administrators to Metalysis Limited.

Mr Williams, advisory partner at Grant Thornton, said: “Metalysis is a truly innovative UK business with a unique disruptive technology that urgently requires new ownership and further ongoing investment.

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“Despite the directors’ best efforts and significant global interest, the business could not continue to operate without the protection of administration.”

He said the immediate priority and urgent focus is to work alongside a credible interested party to secure immediate investment as part of a sale process.

“We would encourage any parties with interest to contact the administrators. With that support, I would hope that the business can continue to operate and thrive,” he added.

Over the past 10 years, Metalysis has developed revolutionary technology in the area of advanced metallic powder production.

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Using its proprietary electrochemical process, the technology allows the production of metal powder consumables ideally suited to light weighting applications in sectors such as aerospace, automotive and in the production of electric vehicle batteries.

It employs 60 people from its two sites in South Yorkshire.

Having recently developed this technology through to an industrial scale following the commissioning of its fourth generation plant (Gen4), the business experienced financial difficulties predominantly due to an extended recent investment round.

As a result of urgent liquidity issues, Grant Thornton said the directors had no alternative other than to place the business into administration.