Mazars completes sale of Fieldens and Specialised Wheel Services Limited

04 June 2018

Adam Harris and Guy Hollander of Mazars LLP, the international accounting and advisory firm, have completed the sale of Fieldens and Specialised Wheel Services to Fieldens OTR Limited, as of 22 May 2018. Harris and Hollander were originally appointed Joint Administrators by the Director of the Companies on 3 May 2018.

Fieldens (Wheels, Tyres & ATVs) Limited (“Fieldens”) was established in 2002, predominantly selling wheels and tyres to the agricultural industry. It concurrently operated as a Honda-approved retailer, selling and servicing Honda All-Terrain Vehicles. When it purchased the business of Specialised Wheel Services Limited (“SWS”) in 2004, it became one of the premier companies in the agricultural wheels and tyres market. Operating from two sites in Stowmarket, Suffolk, and Thetford, Norfolk, it employed over 20 members of staff.

After a short trading period during which the Administrators ran an accelerated marketing process, the business and assets of the Companies were sold to Fieldens OTR Limited, which is part of the OTR International group. This sale has successfully preserved the jobs of all employees and has rescued the long established names of Fieldens and SWS.Adam Harris, Joint Administrator, said: “Poor trading and spiralling costs at the start of 2018 forced the Director to seek protection from creditors via the Administration process. The speed of this sale is testament to the expertise and determination of the Administrators’ team, including their agents, G J Wisdom and solicitors, Freeths LLP, to rescue a key business in the agricultural tyre and wheel industry. It would not have been possible without the support and professionalism of the employees of Fieldens and SWS and I am delighted that I have been able to preserve all of their jobs.”

Gavin Morrison, MD of OTR Wheel Engineering Europe, said “OTR is excited about the opportunities that this acquisition presents for us in UK & Europe. Our immediate challenge is to re-establish these well-known businesses as quickly as possible. Our common strength is our focus on Customers & meeting their needs with great products & services.”