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Quantuma has completed a pre-pack administration sale of Enfield-headquartered Ripmax Limited, a supplier of radio control models and accessories, securing the future of the business and retaining 21 jobs.
The firm’s managing directors, Andrew Watling and Simon Campbell, were appointed as joint administrators of the wholesales on 12 July and completed the sale of the business and assets shortly afterwards to Amerang Limited, a connected company.
Ripmax, which was founded in 1949 and reported a turnover of £5m in 2021, has four sites, including one in Germany. The business has been at the forefront of radio control and specialises in every aspect of the hobby – from aircraft and helicopters to quads, boats and cars, among others.
Simon Campbell, managing director at Quantuma, said: “The sale is a great outcome for the company, which protects the long running established business, as well as providing it with the platform it needs to grow.
“The company incurred significant challenges, including a build-up of crown debt, during the height of the pandemic, with reduced turnover throughout various lockdown periods, and squeezes on cash flow, due to the resulting high cost of importation and shipping.”
He added: “I am delighted to have achieved such a positive outcome for the business, ultimately preserving jobs and a strong online business for the radio control model trade community.”
Nick Moss, CEO at Ripmax Limited, said: “We are delighted that Amerang Limited has taken over the trade of Ripmax. For all of our Ripmax customers and suppliers, we are pleased that it will be very much ‘business as usual’.
“It is our plan to ensure that our well-known range of radio control models and accessories continues to be available to modellers in the UK and across Europe. We would like to thank the team at Quantuma for their assistance with the sale.”
