Diverse engineering Group which had expanded organically and by multiple acquisitions. Core disciplines mechanical, electrical, control and instrumentation solutions entailing the provision of the following services:
- Design
- Manufacture
- Construction
- Installation
Decline of key Oil and Gas market together with loss of key maintenance contracts resulted in trading losses and increasing pressures on cash flows. Absence of segmental P&L reporting and lack of visibility of cash flow forecasting beyond two months rang alarm bells with the bank.