Entrepreneurs acquire controlling stake in engineering firm

A GROUP of Yorkshire-based entrepreneurs have bought the controlling stake in a precision engineering and tool reclamation business.

The deal for Wetherby-based NTR Ltd was completed at close of play on Friday, securing all 21 jobs at the business.

Ex-banker and former managing director at Sellers Global Engineers in Huddersfield, Martin Allinson, will lead a board of investors working alongside remaining director Craig Naylor.

Newly appointed managing director Chris Weeds will be leading the team.

The business, founded in 1979, designs and manufactures tooling equipment for the oil and gas, automotive and heavy engineering sectors from its base at Thorpe Arch Industrial Estate near Wetherby.

With customers in 10 countries including Germany, Italy, France, Switzerland, Singapore and South Africa, it will continue to trade as NTR.

Mr Naylor said: “NTR is a well respected local business with a loyal workforce and an unrivalled reputation for producing high quality tooling that is used by engineering firms throughout the world.

Martin Allison, who is now executive chairman of NTR Limited and who is based in Leeds, said: “This deal secured further investment into the business which is great news for both NTR’s employees and agents and the company’s very loyal client base.

“NTR has been at the forefront of the tooling reclamation industry for almost 40 years and this deal means the company can look forward to an exciting future.

“As a UK exporting manufacturer NTR, like its peers, is vital to the future of the British economy which is why we are investing in it and in Wetherby” he added.

Andrew Thompson and Howard Smith of KPMG, Leeds acted as advisors to Craig Naylor who was also supported by Alison Morfitt and Matthew Rippon of Particular Legal solicitors.

Advisors for the new investors included Graeme Allison of Rosedale Advisory and Kaira Clarehugh of Clarion Solicitors.

 

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