Manufacturer sold as new MD takes over

A Nottingham manufacturer has been sold to a new owner in a deal backed by an investment firm.

Comhar alongside incoming managing director, Joe Martoccia, has acquired Fabriweld Tubular Steel Products.

Fabriweld was established in 1979 by Nigel Gibson and is an international design and manufacturing company that provides steel, aluminium and polymer products to the AV, healthcare and corporate furniture markets.

The deal is the first investment from Leeds-based Comhar (pronounced ‘core’) which was established in 2018 by Neil Armstrong and Craig Wilkinson.

Martoccia, who has worked with Fabriweld as a supplier, will join the board as managing director. Gibson will step down from his chief executive role and continue to work within the business.

Martoccia said: “Fabriweld is a superb business so joining with Craig and Neil from Comhar to invest and support its future growth was an easy decision to make. Nigel has created a business with a strong market reputation and it is this we hope to build upon in the coming years. In particular the audio visual market has some very exciting opportunities, the core skills of the business in clever design and manufacturing excellence will enable us to enter additional sectors.”

Gibson said: “I am extremely proud of Fabriweld, its people and its products, and also the reputation it has forged in the market. I am sure that Joe is the right individual to lead the business through its next stage and, alongside Comhar, will help it to establish new markets and develop new relationships.”

Wilkinson added: “The opportunity to invest in Fabriweld was a long-time in the making but that in itself provided some comfort that we were joining with a strong reputable company with an established customer base. Without doubt, Fabriweld has the potential to develop further, expand into new markets, increase its international footprint and continue its success story.”