Suppliers providing equipment or sundries to a Somerset caterer that recently went into administration will be pleased to learn that the firm has been taken over by one of its competitors.
Pro Serv Corporate Limited was bought out of administration by Warrington-based education catering specialist Taylor Shaw on Friday, extending the company’s reach into the South West and saving 260 jobs.
The deal comes after Pro Serv got into financial difficulties and will see Taylor Shaw, part of national catering group Waterfall Services, safeguard all jobs and continue to operate all the company’s existing contracts.
Waterfall Group managing director, Jim Lovett, said: “As one of the leading national education specialists, we have been keen to expand into the south west, so when the opportunity came up to acquire Pro Serv, we were immediately interested.
“Pro Serv’s strength in the education, as well as healthcare, sector meant there was a natural fit for it within the Taylor Shaw business. As such, we will continue to operate all Pro Serv’s clients in education and healthcare, together with its corporate and industry contracts.”
Pro Serv, which was established in 2004 and serviced clients across the south west from its headquarters in Bridgwater, Somerset, has an annual turnover of £5m but sought advice from administrators at Begbies Traynor after getting into financial difficulties.
As well as securing the jobs of all 260 employees, Taylor Shaw also agreed to support the August payroll of all staff.
Lovett added: “While a national company with contracts and suppliers country-wide, the South-West was the only region Taylor Shaw didn’t have a strong foothold in. The acquisition of Pro Serv changes that.
“Staff will make the transition with immediate effect and we will enter into discussion with existing suppliers and clients to answer any questions they may have, hopefully continuing and strengthening all relationships.”