Investment firm Veloom has acquired Lincolnshire engineering specialist MBE Fabrications in a deal aimed at accelerating the manufacturer’s expansion across the UK, Europe and the United States.<\/p>\n
The Spalding-based business, which was established more than 50 years ago, manufactures prefabricated vehicle inspection pits and steel fabrication products for the commercial vehicle, passenger transport and rail sectors.<\/p>\n
MBE employs more than 50 people and exports to 17 countries.<\/p>\n
Its operations include Premier Pits, Premier Rail Pits, Premier Substructures and a division specialising in vegetable harvesting systems.<\/p>\n
The acquisition will see Veloom seek to build on MBE’s existing UK customer base while targeting further international growth.<\/p>\n
The deal was supported by funding from Aldermore, arranged through Evolve Business Finance. Financial terms have not been disclosed.<\/p>\n
East Midlands law firm Rothera Bray advised Veloom on the acquisition, with its corporate and commercial team led by partner David Kaplan and supported by senior associate Liz Mills.<\/p>\n
Ed Postlethwaite handled the property aspects of the transaction.<\/p>\n
David Myles, CEO of Veloom, said: “MBE Fabrications is an excellent business with a strong heritage, talented team and significant opportunity for further growth across the UK and international markets.<\/p>\n
“We look forward to continuing to work with them as Veloom grows and expands its portfolio further.”<\/p>\n
Kaplan, head of corporate and commercial at Rothera Bray, added: “David and Anuj have an excellent track record of working with and growing businesses, and I am confident that, under their stewardship, MBE Fabrications will continue to build on its strong foundations and achieve further success and growth.<\/p>\n
“We are delighted to have played a part in bringing the transaction together and wish David, Anuj and the MBE team every success for the future.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Deal opens new growth opportunities for established manufacturer employing more than 50 people<\/p>\n","protected":false},"author":25,"featured_media":2116969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57362],"coauthors":[95],"class_list":["post-2116968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","tag-featured-story","tag-lincolnshire"],"yoast_head":"\n