Tamworth company acquired by American manufacturer

TAMWORTH welding firm Prospot has been bought by American manufacturing group Manufacturing Technology Inc (MTI).

It will become part of MTI’s European subsidiary, MTI Welding Technologies, which is headquartered in Kingswinford. The combined group will have sales of more than £10m and a workforce of more than 100 people.

Prospot is nearly 20 years old and currently employs about 40 people at its 16,000 sq ft factory in Fazeley.

MTI, which works on multi-million-pound projects and which service clients such as Jaguar Land Rover, Dana, Pratt Whitney and Rolls Royce, identified an opportunity to extend their product offering into the consumables market through the acquisition of Prospot.

The acquisition will bring investment into the company and enable Prospot to provide increased engineering and service support. It will also allow the company to take on larger and more complicated projects.

“We are very proud to add such a well-respected business to our European subsidiary group,” said MTI’s chief operating officer Doug Wait.

“We felt instant synergy with Prospot and also felt that our core competencies are very much aligned. Just like MTI, Prospot has its own rich heritage and identity, with a well-established customer base and we are looking forward to helping the brand grow with our backing and support.”