SIXTEEN jobs have been saved with the takeover of a Huddersfield engineering firm.

Administrators for troubled Highfield Gear Industries Ltd, based at Nile Street off St Thomas’ Road, Longroyd Bridge, have sold the firm to a new company led by its existing management.

Andrew Andronikou and Paul Zalkin, of business advisory and corporate recovery firm Quantuma, were appointed administrators to ​​Highfield Gear Industries Ltd less than a month ago after the company hit financial problems.

Following the sale, all 16 jobs at Highfield will transfer with the business and will remain at the same site in Huddersfield.

Highfield Gears on St Thomas' Road

Mr Andronikou, a partner at London-based Quantuma, said: “Changes in the business at Highfield Gear Industries had led to rising overheads and resulted in cashflow problems.

“We had approaches from a number of interested parties and were pleased to quickly achieve a sale of the business as a going concern with all 16 jobs saved.”

Highfield Gear Industries was originally established in 1927. The latest version of the business has been trading since 2016. The company, which manufactures gearboxes, gears and related parts, carries out repairs and supplies spares, reported turnover of £1.6m for its most recent financial year.