Johnston Carmichael’s Richard Bathgate and Graeme Bain were appointed joint administrators, with the firm now now sold to Rcapital Partners and implemented through Vine 2023 Limited and IOM Consulting Limited. Following a review of the options available, an accelerated sale and investment process was undertaken to preserve value,” the administrators said. “The sales process included approaches to 54 potentially interested parties and wider exposure through the Mark to Market platform. The statement went on: “The company's employees at the date of administration were transferred to IOMC as part of the sale. “The transfer ensured continuity of employment for the workforce, with employees transferring on their existing terms and conditions of employment.