The Latium Group have announced that they have purchased the Entu group out of administration. Here is the official statement from the Latium Group website:
The Latium Group are delighted to announce the purchase of the Businesses of Entu (UK) PLC which includes the brands: Weatherseal, Penicuik, Zenith, St Helens Glass, St Andrews and Job Worth Doing.
Latium’s CFO, Adrian Kirk, said: “We are delighted to have acquired these excellent brands and all of the employees of Entu. Latium will invest substantial amounts of capital and expertise in order to continue the great service and products that these brands offer to the consumer.
Latium, a privately owned international group of companies, owns businesses in the manufacturing, retail, commercial property, technology and renewable energy sectors”.
See the original statement from the Latium Group here
Naturally, this will come as very welcome relief to all those who work at Entu. It is estimated that 270 jobs at the company will have been saved via this deal.
Relief will also come to creditors of Entu, who will have been wondering if their bills were going to be repaid.
Epwin shares, who supply parts of the Entu group, rose sharply on the news:
Credit: Bloomberg
A ray of good news
There has been a lot of rumour, gossip, and frankly bad news within the industry in the past few weeks. This is a ray of hope and good news in and amongst that which we should be thankful for. If Entu had been allowed to fail the knock-on effects for the people who work at the company and the companies associated with the group would have been enormous.
There’s a lot to be said for continuity, and from here I hope that some level or normality, mixed with positive change can bring a change in fortunes for the business.
I am waiting to see if Entu will publish their own statement on the deal, and if they do, this post will be updated as and when it becomes available. It remains unclear as to whether Entu as a group will remain. The Latium statement says it has acquired the businesses of Entu, perhaps hinting at amalgamating the brands into their own group. As time moves on more will become known.
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Hi, I have been reading you blog regarding the administration of the Entu group. Where do consumers stand with their 10 year guarantee if it’s not insurance backed. Etna were due to replace a sealed unit on the 26th August 2017 after it failed but they never turned up. I was advised yesterday by Job Worth Doing yesterday of the fate of Entu as I did not know they had went into administration. JWD said the new owner has stated they won’t be honouring the guarantees for works completed before the 1st June this year (no one in the office… Read more »
Hello Joanna from what I can see JWD were installation partners of Entu and as working under FENSA scheme had to issue Insurance Backed Guarantee. If you have not got this I am sure the local installers would like to know how we can get away with out paying for IBG if a National does not give them to consumers.
Maybe FENSA can reply to you and us and sort your problem
Dear Joanna, what Garry Monk has advised you is not strictly correct. The issue of mandatory insurance backed guarantees (IBGs) is indeed now part of a company being in a Competent Person Scheme like FENSA, however the IBGs did not become mandatory until June 2014. I get the impression your installation was before then as you say you had 6 years left on your guarantee. Moreover, it is the Entu company which held the contract with you as the consumer which has to register the installation with FENSA, not someone who installs it for them (JWD). You do not say… Read more »
Looks like Brian worked for Entu group with above information.
If a contract got tick in box ! How will someone remember after a number of years if offered or not, seems a bit like the PPI miss selling to be.
Biggest issue is another consumer with a problem with our industry and is anyone going to sort ?
Hi Garry. No I never worked for the Entu Group.