Leonard Curtis appointed as administrators to Versarien PLC
Andrew Knowles and Andrew Poxon from Leonard Curtis were appointed as joint administrators of AIM Listed Versarien PLC on 6th January 2026.
Versarien PLC was incorporated on 25th February 2013 and was an IP-led engineering company with over 100 patents covering the manufacture and application of advanced materials, including graphene. It is also the major shareholder of a Spanish and UK subsidiary.
Given Versarien PLC had been making losses for several years the board had been pursuing third party investment as part of a turnaround strategy which would lead the business to profitability.
When it became clear that the third-party investment was looking unlikely, the board appointed Leonard Curtis in an advisory capacity in May 2025.
Following a review of alternate finance and investment options, the board concluded in July 2025 that the company needed to begin an accelerated mergers & acquisition process. This process started in August 2025.
Despite some expressions of interest being received, the going concern proposals were not acceptable to the board and therefore, given the cash constraints of the business, they decided to appoint Andrew Knowles and Andrew Poxon as administrators of the company.
Andrew Knowles commented: “We are disappointed that a solvent sale of the business did not take place, despite reaching out to both industry and non-industry specific parties.
“However, we are currently in negotiations with several parties who are looking to acquire the business and assets from the administrators.”