A deal has been struck to buy the business and assets of Northern Ireland bus maker Wrightbus, after it entered administration with the loss of 1,200 jobs.

Wrightbus designs and manufactures buses in Ballymena; it is recognised as one of Europe’s leading providers of passenger transport solutions (www.wrightsgroup.com).

Michael Magnay and Peter Allen of Deloitte — appointed last month as joint administrators — have confirmed that Bamford Bus Co Ltd, which is led by industrialist Jo Bamford, has agreed a deal to buy the business and assets of Wrights Group Ltd, Wrightbus Ltd, Wright En-Drive Ltd and Metallix Ltd.

Mr Allen said: “We are delighted to have reached a deal with Bamford Bus Co to secure the future of the business in Ballymena.

"After making extensive efforts to find a buyer, we are confident that the new owner represents a bright future for a key employer in Northern Ireland.”

The deal includes an option to acquire the international division of Wright Group Ltd, but it remains unclear how many of the 1,200 jobs could be saved.

Bamford Bus Co says it is “currently determining the size and composition of the workforce required for its future plans, but the 60 staff retained by the joint administrators have transferred to Bamford Bus Co”.

Meanwhile, in a separate deal, Jans Composites Ltd has agreed the purchase of Wright Composites Ltd for an undisclosed sum.

Mr Bamford said: “Wrightbus is a proud family business, which is part of the fabric of Northern Ireland life and business.

"I am delighted to acquire such an established and respected brand. We can now start to look to the future and build on the excellent work that Sir William Wright and his family have done to develop the Wrightbus business.”