Sovam rescue package agreed

Written by: Alwyn Brice |
Nice to see Sovam and Abbey giving Sovam a chance to turn things around. Tim Rane will be a great ...

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Abbey International Finance Group has taken over the assets of French GSE manufacturer Sovam.

Abbey’s offer was chosen by the Commercial Court because it demonstrated the best credible offer for the sustainability of the activities and employment. The offer was supported by Sovam’s current employees and management team. The project, with the support of a reinforced management team, looks to ensure a successful turnaround, strengthening the company and ensuring its reliability and long-term sustainability.

In addition to Pascal Yvernault, who will remain Managing Director, Tim Rane will come on board as Chief Executive Officer. With over 25 years of experience in the GSE sector, Tim will bring expertise and renowned leadership to the newly revamped company.


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Nice to see Sovam and Abbey giving Sovam a chance to turn things around. Tim Rane will be a great addition and will certainly have the ability to get the Team behind him and work towards restoring business success.
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