Derby entrepreneur Graham Mulholland has rescued the successor of his former company EPM Technologies by buying it with an investor in a move that has saved 41 jobs.
Mulholland, who led EPM Technology for 21 years, has saved the jobs and orders after he joined an investor in buying the assets of its successor EPM Composites.
His new company, Mulholland Group, which will be based at EPM’s former site at Belmore Way.
Mulholland founded EPM Technology in 1996 and was its chief executive until 2017 when it was bought out by venture catalysts A2e. It then became EPM Composites.
During the past two years, he was involved as a consultant in various projects but last week a potential investor Andrzej Kurowski approached him and explained that EPM was in trouble and he was interested in a partnership to take the workforce forward.
Mulholland said: “I only heard about this on Tuesday and the deal was done three days later. Most people buy Christmas presents on Black Friday – we bought a company.
“Despite EPM’s difficulties, the company still had an order book and we will fulfil it because we have retained the skill set among the workforce.
“Of course, we will also look to take on new orders – indeed, we have already had some.”
EPM was supplying parts to four Grand Prix teams and makers of two Hypercars and Mulholland Group will continue to work in those fields as well as looking to extend its reach much further.
Mulholland added: “There is no point looking to the past and what might have been. EPM under its venture catalyst ownership failed and we won’t.
“I am looking to the future – I have unfinished business in the composites sector – putting my name on the company shows clear intent and our determination to achieve our goals.
“I think it is important for staff and customers to see that conviction and we are aware with some that we need to build trust and confidence.”
“Our plan is to do it once and do it well. That will be the springboard for us to right this wrong and once again be successful.”