Independent vehicle leasing, outsourcing and fleet management provider Zenith has bought the fleet services, rental and finance operations of trailer manufacturer Cartwright from administrators for an undisclosed sum, securing 259 jobs at sites across the UK.
But the manufacturing side of the Altrincham, Cheshire-based, business has not been sold, with 480 jobs lost as a result.
The firm collapsed into administration last week.
Zenith has acquired Cartwright Fleet Services, Cartwright Rentals and Cartwright Finance.
The deal creates the UK’s largest HGV and specialist fleets with over 50,000 vehicles and one of the largest trailer rental fleets in the UK.
The jobs will be lost at the S Cartwright & Sons (Coachbuilders) and Cartwright Fabrications businesses.
Cartwright was the UK’s leading trailer, commercial vehicle body and conversion manufacturer, offering the largest, most diverse range of products available in the UK market.
Founded in 1952 its head office is at a 38-acre site in Altrincham, where it designed and manufactured for a wide range of clients – from small, independent businesses to multinationals.
It also has depots in Leeds, Glasgow, and Aldridge in the West Midlands.
In recent years it had rolled out a full range of services including rentals, finance, conversions and fleet services, to become a truly one-stop-shop for the full life service of our vehicles.
Joint administrator Michael Magnay said: “While we are pleased that a total closure of the group has been avoided, we regret that today’s announcement includes a number of redundancies.”
Martin Jenkins, chief executive of the HGV and specialist vehicles division and group strategy director at Zenith, said: “The businesses have a good reputation in their sector and are a great fit with the customer-first culture at Zenith.
“Bringing these operations together is an important step in our strategic growth plans and supports our position as the leading provider of fleet services across all asset types in the UK.”