Langdale was a leading UK-headquartered distributor of specialised car parts, specifically parts for Land Rover vehicles. They distributed parts and related products to customers in >130 countries, both B2B and B2C.
The company was adversely affected by both the COVID-19 pandemic and Brexit, which negatively impacted the company’s financial position.
Whilst management implemented cost saving and working capital optimisation measures, they were unable to bring the company back to profitability and a sustainable liquidity position without the provision of external funding. However, additional funding from the Company’s existing shareholders and key investors was not available. BDO were engaged to perform an Independent Business Review including contingency planning, culminating in an accelerated M&A process supported by the company’s lenders. The team successfully identified interested parties and secured a sale of assets of the business via a pre-pack administration process to a market competitor, generating positive returns to creditors.