Tue, 15 Feb 2022 | BUSINESS SALE
Leviathan Engineering has acquired Plymouth-based GMD Eurotool for an undisclosed sum, as the first in a planned series of acquisitions. Leviathan has said it is aiming to use acquisitions to build a diverse, integrated engineering group based in Bristol.
Leviathan’s expansion plans, the company has said, will focus on “premium value and growth sectors”. By acquiring a broader array of engineering services, the group can begin to focus on bigger and “more technical” projects.
GMD Eurotool is based on Plympton’s Langage Industrial estate and provides services including design solutions and precision-engineered components for complex projects across a range of sectors.
The company works in industries including energy, pharmaceutical, marine, defence and food processing, with some its major clients including the Royal National Lifeboat Institution and major defence and engineering group Babcock.
Announcing the acquisition, Leviathan revealed it has an “ambitious plan” to expand GMD’s services further and harness a growing company base, while facilitating management transition. Post-acquisition, GMD’s founding Samson family, who established the business over 25 years ago, will remain within the firm.
Leviathan was advised on the deal by Harrison Clark Rickerbys, with HCR’s Rachel Reeves leading on the acquisition with the support of Mark Edwards. The acquisition was funded through SME Capital, with support from co-head of origination Colin James
Rachel Reeves commented: "Leviathan have been a client for some time, and I'm delighted to be able to support them at the start of an ambitious and well-planned journey towards a new business model for the company."
Leviathan chief executive Glenn Karlsson added: "The work of Rachael and her team was invaluable through a range of legal and COVID related challenges, and we look forward to working with them again."
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