A YORK firm which provides part time directors to SMEs has completed a contact and asset sale for a Scunthorpe waste services firm.

Part Time Executives, in Laytham, has successfully completed the deal on behalf of Thompson Waste Recycling Limited to Ellgia Recycling Limited for an undisclosed cash sum.

The transaction has been welcomed by Kevin and Nessa Thompson of Thompson Waste Recycling Limited as it ensured continuity for both staff and customers, following a devastating fire at the premises earlier this year.

Under the terms of the sale transaction Thompson Waste Recycling Limited will retain their premises and continue to deliver the hospital contracts.

Kevin Thompson said: "Part Time Executives Limited added significant value to the sale process; having drawn up a list of potential buyers and contacted them all they successfully secured the best offer.

"The calmness under pressure of Part Time Executives Limited along with their ability to broker a good deal and their understanding of a complicated process, allowed us to achieve the sale objective without too many difficulties in less than a month."

The legal work in respect of the sale transaction was undertaken by Mike Searle of Bridge McFarland.

Andrew Mackenzie, chief executive of Part Time Executives Limited said: "The completion of a deal of this scale and complexity in a period of only four weeks is testimony to what a highly motivated buyer and seller can achieve with the help of two pragmatic firms of solicitors. It was a pleasure to do business with everybody."