TWELVE jobs have been saved after a Hampshire company which provides wheel alignment equipment to garages across the UK and abroad was sold out of administration.

Hedge End-based Supertracker Limited has traded for more than 30 years, making, supplying and maintaining equipment to companies such as Kwik-Fit, Formula One Autocentres and National Tyres.

It has been sold to Straightset Ltd, an independent family business which provides, installs and services equipment for car and commercial workshops.

Fareham-based business recovery firm Portland Leonard Curtis said it held discussions with several potential buyers.

Once the firm had a contract in place with a buyer, the business was formally placed into administration and the company and its assets were then sold.

Portland Leonard Curtis said all 12 jobs were transferred to Straightset and that it would be able to pay creditors more than if the business had closed.

Stewart Goldsmith, associate director at Portland Leonard Curtis, said: “Despite being in business for three decades, with consistent sales and profit, Supertracker had no choice but to seek a buyer for the business.

“Staffing issues combined with the fact that the director wanted to retire, and did not have a senior management team in place to take over, left him in the unfortunate position of having a successful business he was no longer able to effectively operate.”

Independent professional agent Lambert Smith Hampton was instructed to market the business in mid-February. Buyer Straightset Ltd has been in the industry for more than 30 years.

Mr Goldsmith added: “After considering all offers and carrying out the relevant due diligence, we were able to finalise a sale for Supertracker which would leave all parties in the strongest position possible and will ultimately ensure that creditors receive a return from the proceeds of sale.

“As part of the sale and administration, and in partnership with LSH, we were able to sell the business and the physical assets of the company which included stock, vans, plant and equipment to Straightset Ltd.

“This was a complex case that had lots of moving parts. Had a sale not been secured, a number of well-known companies, who relied on the technology and service that Supertracker offered, would have been severely impacted.

"We are pleased we were able to reach a more than satisfactory outcome which keeps the supply chain within this industry moving and will not have a knock-on effect on companies and customers.”