Moorfields Advisory are pleased to have completed a pre-pack sale of an architectural and decorative arts glass company.
Daedalian Glass Studios based in Lancashire, designs and produces decorative glass installations for national and international 5 star hotels, mansions and superyachts. Their work features in some of the finest buildings in the UK and around the world, such as the Savoy, Dorchester and Lanesborough Hotels in London and royal palaces in the Middle East, to name but a few.
The successful pre-pack sale to an investor enabled significant debt reduction and cost saving, along with the smooth transition of 21 employees, ensuring that the company can continued to operate without any disruption to customers, and consequently, now has far greater profitable potential.
Mark Delaney, Partner in Moorfields said “We are delighted to have significantly enhanced the future of Daedalian Glass Studios, the company is well respected for producing high standard designs and has an impressive portfolio. We wish the new company every success in the future and look forward to seeing more of your exclusive glasswork.”
Joe Walmsley, MD, Daedalian Glass Studios said “Restructuring Daedalian to receive equity investment, through a pre-pack administration, made absolute commercial sense, moving away from several COVID hangovers, but the process was complex and not without risk – Moorfields really took the hard work away from the Directors, enabling a unique company of people to begin a new chapter, in a forty year history of decorative glass making, and maximise the return on investment from new partners. Thank you to Matt Donohoe, Mark Delaney and their team.”
