AN airflow technology firm that went into administration with the loss of 70 jobs last month has had its assets bought by a Preston firm.

Mach-Aire Ltd, which was based in Bridge Street in Horwich, ceased trading last month with all full and part time staff made redundant.

Administrators FRP Advisory were called in and have now sold elements of the trade and assets of the business to Atlas Clean Air Ltd — a specialist in isolation technologies and air handling systems.

Atlas will maintain the Mach-Aire business as an independent operation based at its head office in Preston — with an aim to ensure continuity of service for remaining customers.

FRP administrators Tom MacLennan and Ben Woolrych were appointed after Mach-Aire suffered “substantial losses” on major contracts and had been having cash flow problems.

Workers were told on February 20 that they were losing their jobs.

Administrators said they received a number of approaches but decided that the offer from Atlas was the best solution for the firm.

The buyout follows Atlas’ previous acquisitions of the trade and assets of Clean Modules Limited and T Jolly Services (UK) Limited.

Ben Woolrych, joint administrator and partner at FRP Advisory, said: “The sale to Atlas provides the best solution for the creditors of Mach-Aire Limited, ensuring the brand can trade under the new ownership of an established, successful Lancashire firm and ensuring the loyal customers continue to receive the service and support they deserve."

Paul Riley, managing director of Atlas said: “This latest acquisition is very much in line with our growth strategy and we shall ensure continuing support for the well-established Mach-Aire client base."