Wed, 21 Feb 2024 | BUSINESS SALE
Plymouth-based engineering firm Applied Automation (UK) has increased its precision engineering offering with the acquisition of machining firm PTG Workholding for an undisclosed sum. Based in Staple Hill, Bristol, PTG Workholding has been operating for more than 30 years, supplying UK and overseas markets with expanding mandrels for use in automatic and manual clamping of component bores.
Applied Automation is based in Devon, with a 140,000 sq ft factory in Plymouth, and has satellite offices and warehouses in Cardiff and Portsmouth. The company designs, manufactures and delivers standard and bespoke automation and control equipment to the industrial engineering, marine and smart home markets.
The firm employs more than 150 engineers, designers, project managers, sales engineers and professional specialists, working across several specialist divisions, as well as wholly-owned subsidiaries, including a precision engineering company and specialist tube bending company. This enables the company to provide customers with high levels of technical support and service across multiple industries.
Commenting on the acquisition, Applied Automation Managing Director David Rowe said: “We’ve been looking to increase our existing precision engineering offering and with the purchase of PTG Workholding we will now be able to manufacture custom jigs and fixtures along with specials based around PTG’s standard expanding mandrel range.”
“It’s a great fit for our business and we’re firmly committed to continue delivering high-quality engineered parts at great prices, which was the bedrock of PTG Workholding’s success for more than three decades, to both existing and new customers."
Despite high levels of distress and insolvencies in the UK manufacturing industry, M&A activity in the sector has been relatively strong over recent years, as companies that are able to access the requisite financing use acquisitions to tap into new innovations, improve their ESG performance and bolster their supply chains. Dealmaking is being boosted further still by significant distress, as well as investment into the sector from private equity and venture capital.
Find out more about M&A trends in the UK manufacturing sector
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