Expromet Technologies Group Buys Metaltech Precision
The Corporate team at law firm Irwin Mitchell has advised precision casting and machining group Expromet Technologies Group on its acquisition of Metaltech Precision.
Expromet Technologies Group is a privately-owned precision engineering group that also owns Investacast, a global supplier of investment castings, pressure die castings and forgings; and Haworth Castings, a specialist in manufacturing sand and gravity die castings.
Employing 70 workers and founded in 1973, Metaltech Precision is a manufacturer of precision components. The business has extensive capabilities CNC turning, milling, fabrication and welding, and makes components for demanding industries such as energy, scientific instruments, pump and valve, aerospace, defence, rail and marine.
Alistair Schofield, chief executive of Expromet, said: "The acquisition of Metaltech is the next step in the development of Expromet and the business represents a strong fit with our existing casting and machining operations.
"I would like to thank Steve Hill and the team at Metaltech for working with us, over what has been an incredibly challenging period, to make this transaction happen. I look forward to working with Steve and his colleagues in the future as we continue to develop the business within the group."
Nick Dawson, Matt Smith, Paddy Sturman and Tom Wisniewski from Irwin Mitchell advised Expromet on the deal with Bishop Fleming providing corporate finance support.
Expert Opinion“This is an important deal for Expromet which will no doubt support its strategic growth plans in the future.
“All businesses are dealing with huge levels of disruption and uncertainty at the moment however Expromet has shown a great deal of resilience and this acquisition highlights its ambition for the future. I am delighted to have advised Alistair and his team on the deal and I look forward to seeing how the business builds on this transaction in the future.”
Matt Smith - Associate Solicitor
Steve Hill, managing director of Metaltech, said: "Joining Expromet will strengthen our position as a leading precision machining and fabrication supplier by giving us access to a wide range of resources, expertise and investment that will benefit the business and its customers."