UK cooling services firm JD Cooling has been acquired after calling in the creditors last month.
The service and maintenance business of JD Cooling Systems has been acquired by its directors for £162,116 ($200,694) after going into administration in August. The directors in question - Haylet Jackson, Thomas Marshall, and Matthew Roberts - registered a new company, JD Cooling Acquisition Ltd, on August 15, presumably to enable them to purchase the company.
Now known as JD Cooling Service and Maintenance, the company was previously dormant and established in February 2021 as JD Cooling Renewables.
During the year leading up to May 2022, JD Cooling saw a loss of almost £1 million ($1.2m) and a turnover of £16.5m ($20.4m) - down from a turnover of £30m ($37.2m) in 2021. The next 11 months (May 2022 to April 2023) showed even worse numbers, with a loss of £1.3m ($1.6m) and a turnover of $14.7m ($18.2m).
On August 17, the company was placed into administration by McTear Williams & Wood. By acquiring the UK-based business - a deal that went through on August 25 - around 40 jobs have been saved.
JD Cooling Systems was first established in 1994 as IMA Cooling Systems, rebranding in 2011. The company provides bespoke temperature control systems for a variety of industries, including data centers.
20 September 2023