A CORPORATE finance team from Bolton has helped to save 50 manufacturing jobs in Wigan.

Indmar Sheetmetal of Hindley Green was a division of Park Products, the engineering company that went into receivership in January after disastrous trading months in November and December 2004.

CLB Corporate Finance, based in Chorley New Road, acted as lead advisers on the management buyout of Indmar from the receivers of Park Products, for an undisclosed sum by Managing Director Chris Strang.

Established almost 30 years ago, Indmar Sheetmetal was incorporated into Park Products in 1998. The company designs and manufactures fabricated sheet metal components, through to finishing and assembly. The business employs 56 staff and the markets it serves include domestic and industrial heating, pharmaceutical, construction, garden and leisure in addition to the Ministry of Defence.

CLB Corporate Finance partner and lead advisor on the deal, Steven Lindsay, said: "We negotiated the deal with three lenders to ensure Chris had the right financial package in place to fund the purchase. We are looking forward to working with Indmar to implement their ambitious plans for further expansion." Steven was assisted by Andrew Feeke of CLB.

Indmar's managing director Chris Strang said: "I am very excited about taking control of the company and moving it forward. We have a strong team, a detailed strategy and mechanisms in place to expand Indmar Sheetmetal to not only remain a leading player in our markets, but also surpass past performance and growth. Our continued investment in the business and our staff will form a key part of this strategy.

The funding package team consisted of Davenham (Guy Wadsworth), Eurosales (Julian Osborne) and Royal Bank of Scotland (John Morgan and Jon Buckley). Indmar received legal advice from Pannone (Simon Wallwork and Sonio Singh).