The deal with administrators from BDO saves 15 jobs, although 34 Indtherm staff were made redundant, mainly in the installation division.
Simon Jones, the CEO of Leicester-based Electrum Services, said the strategic purchase would position the company to further improve services to its national client base.
Jones said: “Electrum’s offering is now stronger than ever and with the new acquisition Electrum is poised to grow and expand into new and diverse areas.”
Ian Gould and Kim Rayment were appointed joint administrators over Indtherm and its three divisions, Indtherm Heating Services, Indtherm Installations and John A Gaunt (Electrical Contractors) earlier this month.
Gould said: “We’re delighted to have achieved a sale of part of the business to Electrum Service, preserving 15 jobs in the process.
“Unfortunately the economic climate and difficult trading conditions significantly affected the business. We are continuing to work to achieve the best possible outcome for creditors and employees.”