FILM & TV EQUIPMENT FIRM BOUGHT OUT OF ADMINISTRATION
Jobs have been saved after a Greater Manchester firm that hires out film and TV equipment was bought out of administration.
Newton Heath-based Pro-Motion Hire has been acquired by Pixipixel Rental for an undisclosed sum. The deal, which was secured by administrators from business advisory firm Quantuma, has saved all 28 jobs.
Pro-motion Hire was established in 2005 and specialised in the hire of camera and lighting equipment to firms operating across the creative industries.
The business operates from two sites, Newton Heath and Brentford in West London. The company posted a turnover of £2.6m in December 2022, a decline from the previous year.
The administration and sale process was overseen by Quantuma managing directors Andrew Watling and Duncan Beat. Mr Watling said: “Pro-motion Hire is a high quality and well-established business which suffered a significant reduction in trade during 2020 as a direct result of the Covid pandemic.
A number of large customers put trading on hold whilst they followed the work from home guidance.”
He added: “The business was slow to recover as lockdowns were lifted, and has continued to struggle through 2022, exacerbated by a heightened period of slow trade through school holidays and has been further impacted due to unforeseen events including industrial action and adverse weather conditions all reducing filming requirements.
The joint administrators are delighted to have secured a sale for the business, which not only saves all 28 jobs, but which also represents an excellent outcome for all creditors.”
Steve Knight, managing director of Pixipixel, added: “This is a very exciting development for us. Pro Motion Hire is a great fit and we’re thrilled about working with the team, propelling Pixipixel’s expansion plans and increasing our market presence to support productions of all sizes nationwide.”
Duncan Martin, managing director of Pro Motion Hire, said: “We are very happy to be joining Pixipixel Rental. We’ve built a strong reputation in the market and our clients will continue to benefit from our excellent customer service.
We will continue to operate from our London and Manchester branches, supporting productions across the UK and worldwide. Through this buyout by Pixipixel, we hope to build on what we’ve accomplished over the last 18 years.”
