Engineering firms snapped up by investment company

Two Midlands companies have been snapped up as part of North-West-based Tade Acquisition Partners’ (TAP) maiden investments.

Derbyshire-based Phoenix Naylor Abrasives and Halesowen firm Swift & Whitmore have been acquired, along with two North-West companies.

TAP director, Ian Davidson, said: “We are delighted to have been able to acquire these long standing and successful businesses and look forward to working with the existing management teams to secure further growth through innovation and investment in both people and technology.”

Janette Tierney, managing director of Swift & Whitmore, added: “We are very much looking forward to working with our new owners on the next phase of our growth, there are many opportunities within the sector for us to support UK based engineering businesses as well as those further afield particularly as lead times become longer and shipping costs greater for manufacturers based abroad as a result of Brexit and other external factors.”

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