Nottingham manufacturer sold to multinational counterpart
A Nottingham manufacturer of ‘Sureseal’ hydraulic equipment has been sold to US counterpart.
Cleveland-based Brennan Industries has swooped for Miric Engineering, which operates from Hucknall.
This is Brennan’s second acquisition in the UK following the purchase of Truflow Hydraulic Components in 2016.
The deal was brokered by Manchester-based corporate finance company The Camlee Group.
David Yates of Miric said: “I am very pleased with the outcome of the process, this is great news for the customers and staff of Miric.
“Brennan is a multinational player with an excellent reputation in the critical flow components sector.
“I would also like to thank the guys at Camlee and Bermans for their drive and determination to get this deal over the line.”
Lee Wojtkiw, director of the Camlee Group, lead the transaction on behalf of the vendors.
He said: “I’m delighted that we have successfully concluded the sale of Miric Engineering. This transatlantic deal will enable Brennan to further expand into the UK and European market and ensure that Miric can continue its own development with the backing and support of a global player.”
Jon Davage and Robin Hastings of Bermans in Manchester provided legal advice to the vendors.