30 jobs saved as Milton Keynes engineering company finds US buyer

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Thirty jobs have been saved in Milton Keynes following the sale of specialist design and manufacturing company, CVT Limited to MDC Vacuum.

It’s part of the MDC LLC group based in California, in a deal concluded by administrators Moore Stephens, the Top Ten accountancy and consultancy firm.

CVT Ltd is a long established designer and manufacturer of specialist ultra-high vacuum vessels and precision mechanisms. The company operates from a 20,000 sq. ft. factory in Milton Keynes.

MDC Vacuum Products LLC, based in Hayward, California, was founded in 1975 and is a leading provider of high vacuum and ultra-high vacuum vessels, ceramic-to-metal bonding and gas delivery.

Moore Stephens said there had been several interested parties in the purchase of CVT. The pre-packaged sale to MDC was finalised in January.

Michael Finch, Partner, Restructuring & Insolvency at Moore Stephens says: “We wish the business and its purchaser every success going forward. The conclusion of this sale was not without its challenges and was concluded after several weeks of negotiations with various parties.

“The sale successfully preserved a long established local business that had been operating in Milton Keynes for almost 40 years, as well as preserving of the jobs of its 30 employees.”

Roger Cockroft, director of MDC Vacuum, commented: “It’s exciting times here at MDC; we’re investing in the latest technology and tools, expanding our capabilities and skill sets, and kicking off a global focus on continual innovation.”