Kroll confirms part sale of Pharmaserve

Jimmy Saunders and Michael Lennon were appointed as joint administrators of the respiratory products manufacturer – founded in 2007 – at the start of this month following an extensive sale process. The company’s contract development business and certain assets were sold to Noveayr Respiratory Services immediately upon appointment.

Saunders, a managing director at Kroll, said: “We are pleased to have been able to agree a partial sale of the business with such a longstanding heritage and reputation in the industry. The sale has ensured that 58 jobs from a skilled workforce are protected and will remain in the region. We wish the team at Noveayr all the best for the future.”