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22 jobs saved as Mascot Metal Manufacturers acquires the Birmingham-based hardware fittings distributor for an undisclosed sum.
Administrators from Baker Tilly have announced that a buyer for Hiatt Hardware Limited has been found.
Administrator and Baker Tilly partner, Guy Mander said: "We had a twofold strategy - to continue to meet customer orders in order to protect the value in the business and to seek a buyer. Over 50 parties showed interest and we are thrilled to have concluded the sale and preserved the business and jobs for the future."
He added: "This could not have been achieved without the fantastic support we received from the employees throughout our trading period to ensure we met customer orders whilst a buyer was being sought".
Hiatt is one of the UK's leading importers and distributors of hardware fittings to the DIY sector and furniture fittings manufacturers. The sale will save 22 jobs at the firm.
Mr Rajesh Agrawal, Mascot's managing director, commented: "We are delighted to have acquired the Hiatt Hardware business; having supplied Hiatt with product for some time, this is a perfect opportunity for us to meet our strategic goal."