Eco lighting company sold out of administration

Truro-based eco lighting company Somar International Ltd, which was placed into Administration with national business recovery and restructuring firm Begbies Traynor in February, has been sold to national energy efficiency company the Mark Group.

Administrators Ian Walker and Chris Norman of Begbies Traynor’s Exeter office traded Somar for three weeks while they looked for a buyer.

The Mark Group’s purchase of Somar preserves 8 jobs, and also signals an expansion of the Group’s activities from the residential to the commercial market.

Partner Ian Walker at Begbies Traynor comments, “We’re very pleased to have been able to bring this Administration to such a positive conclusion. ‘Green’ companies such as Somar and the Mark Group have a major role to play in the economy of the UK, and the Truro business can only benefit from the relationship with a national brand.”