Swedish group looks to West Midlands for manufacturing acquisitions

A SWEDISH company is targeting the West Midlands for additional growth after completing the acquisition of two key supply businesses.

Following on from its acquisition of Redditch-based Micro Spring and Presswork, Indutrade has acquired all of the shares in Witton-based Birmingham Specialities, which has annual sales in excess of £6m.

Birmingham Specialities is a leading manufacturer of precision pressings and CNC machining. Major customer segments include the rail industry and electronic industry, diesel engine manufacturers and other industries.

Following completion, the company will become part of Indutrade’s Special Products business area. The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.

Birmingham Specialities is a leading manufacturer of precision pressings and CNC machining. Major customer segments are the rail industry and electronic industry, diesel engine manufacturers and other industries.

The company will become part of Indutrade’s Special Products business area. The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.

Redditch-based Micro Spring and Presswork (MSP) has annual sales of around £4m. It is a specialist manufacturer of a wide range of springs and stampings. Major customer segments are aerospace, defence, oil & gas, nuclear and hightech manufacturing.

The company will be part of Indutrade’s Special Products business area. The acquisition is expected to have a marginally positive impact on Indutrade’s earnings per share.

MSP is a specialist manufacturer of a wide range of springs, presswork and assemblies for industries including aerospace & defence, oil & gas, nuclear, medical and high tech manufacturing. Under Nevis ownership the number of staff has increased from 29 to 45 and the sales doubled.

BDO’s Mergers & Acquisitions team advised the shareholders of Birmingham Specialities Limited on its sale to Indutrade.

Indutrade, listed on the Stockholm Stock Exchange, markets and sells components, systems and services with a high-tech content within five business areas.

Birmingham Specialities will form part of Indutrade’s Special Products business area which focuses on specially manufactured niche products, design solutions, aftermarket service and assembly, and special processing.

Richard Bettinson, Indutrade shareholder said: “The shareholders and directors were delighted with the sale of the company to the Indutrade Group. This sale secured the ongoing future of the company together with job security for all employees.

“Long established and run by a strong, experienced management team, Birmingham Specialities has built its reputation on both quality of service and technical expertise.”

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