Thu, 12 May 2016 | MERGER
Engineering firm WEC Group has acquired subcontract manufacturer HTA Group in a multimillion-pound deal to create a “major new force in the UK’s laser-cutting and fabrication sector”.
The merger between Lancashire-based WEC Group and HTA Group, which is based in Coventry, will create a company with an 800-strong workforce and a projected turnover of £75 million. It will enable both companies to offer more products to its customers.
HTA Group, which has a workforce of 130 employees and an annual turnover of £10 million, was founded in 1973. It supplies laser-cut parts, sheet metal components and fabricated technologies to a variety of other companies. In 2015, HTA Group invested more than £2 million in a facility for automated laser profiling — at the time, it was considered the most state-of-the-art installation of its kind in the country.
Darwen-based WEC Group has invested around £11 million in new machinery and expanding its business over the last year. Its latest acquisition of HTA Group will combine its machinery to offer 23 laser-cutting machines across its UK operations.
Wayne Wild, the commercial director of WEC Group, said: “HTA’s partnership with WEC Group will create a major new force in the UK’s laser cutting and fabrication sector and allows both companies to offer more to our customers.
“Continuous investment in new technology and in our workforce has been the hallmark of the WEC Group’s success and we’re delighted to welcome HTA into our growing family. It’s a really great fit for our business.”
Adam Thomas, the managing director of HTA Group, added: “The synergy with WEC Group is very strong and this deal makes both businesses much stronger entities. It really enhances our capabilities and capacity and that is a major advantage to all our customers.”
For more information on the subject, see the Business Sale Report resources on post merger integration.
Established in 1994, these three handsomely presented and fully-equipped unisex hair salons are located in a prominent trading location.
Established vehicle display is located in a Berkshire prominent main toad. The business boats an excellent reputation and customer base.
LEASEHOLD
Established 2019, this logistics company can be managed from anywhere. The business comes with reliable executives already in place.
19
|
Apr
|
Building services consultancy moves to employee ownership | MBO/MBI
A building services consultancy in the North East has moved ...
19
|
Apr
|
US firm acquires Somerset employee management provider | BUSINESS SALE
An employee management services firm based in Somerset has b...
18
|
Apr
|
Education specialist makes second LDC-backed acquisition | BUSINESS SALE
Hybrid, an education media and marketing services firm, has ...
27
|
Feb
|
Deal agreed for Rotherham-based manufacturing firm | BUSINESS SALE
The assets of a manufacturing firm in Rotherham have been bo...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.