Tag Archives: Hastie Group

Hastie Group is in Administration


Hastie Group Limited is leading in design, installation and maintenance of technical services to the building and infrastructure sector.

The company has grown from an air conditioning company based in Sydney and now provides services in four different divisions: refrigeration, electrical, maintenance and service and mechanical and hydraulics.

Sadly they have gone into administration as many businesses have done so over the last year due to the economic climate. This will have effects on businesses here in the UK and Ireland. This is because Hastie Group owned Rotary Group which is based in Warrington. They are now searching for a new owner and are still trading like normal even though the parent company is in administration.

Hastie employs 7,000 people around the world and is estimated to own £314 million.

The administrator has said, “We believe they are profitable businesses with liquidity headroom. Over the coming weeks we expect there will be an orderly process to sell the Rotary UK and Ireland businesses as going concerns.”

The Australian and Middle Eastern businesses have been suspended as they have insufficient funds for the administrators to keep them running. They have been suspended till their financial positions have been reviewed and analysed.