Fri, 25 Aug 2023 | BUSINESS SALE
Allied Global Engineering has continued its growth with its third acquisition. The Macclesfield-based group has acquired Openshaw firm Mantec Engineering for an undisclosed sum, in a deal that expands its service offering and brings in several blue-chip customers.
Mantec Engineering provides precision tuned and milled components to a range of technically demanding UK markets, including the sub-sea, rail and food sectors. The company's client list includes several prominent organisations and the firm is also a preferred supplier of precision machined components to Transport for London (TfL).
The acquisition forms part of Allied Global Engineering’s strategy of building a group that is capable of providing end-to-end engineering services and solutions. The deal follows the group’s 2020 acquisition of CNC precision machining services firm EGL Vaughan and its 2022 acquisition of sub-contracted engineering services provider G&J Group.
A team from independent corporate finance adviser Bamburgh Capital provided advice to Mantec during the acquisition process.
Commenting on the sale and wider trends in the UK’s engineering market, Bamburgh Capital’s Gabriel Schwalbe said: “We are seeing growing demand in the UK engineering sector, driven by the re-shoring of critical manufacturing supply chains due to geo-political volatility.”
“Mantec is trusted by its clients for its specialist components and offers a well-invested platform for significant growth potential ahead.”
Allied Global Engineering founder Phil Jepson commented: “We are hugely excited by the opportunity to become the custodians of Mantec, to inherit the fruits of the hard work of Peter and his team and lead the business through the next phase of its life.”
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