This high profile business had a loyal and expanding customer base mainly within the defence, oil/petrochemical, shipbuilding/dockyard, chemical/process plant, power generation, heavy engineering and aerospace industries.
Full quality assurance – BS.EN.ISO 9000 – and certification were in place with in-house inspection facilities ensuring all products were manufactured to the highest standards.
Staffed by a highly trained and loyal workforce, the company benefited from a flexible production facility which enabled it to supply one-off prototypes to full production batch quantities across all types and sizes of special and non-standard fasteners including precision machined components.
The company operated in the more lucrative end of the market, producing quality items that are robust, technically advanced and well priced. This in turn offered unlimited opportunities and high levels of loyalty.
Prior to acquisition, sales for the year ending June 30 2008 were £1.640 million with a gross margin of £400,000 after raw materials, staff wages, carriage and hire of equipment. Sales had risen by 11 per cent on 2007 figures.
The business, which was only made available for sale due to genuine retirement, had all the necessary skills and equipment to expand further under a new owner.