Tracoinsa Systems acquired by Expert Group

A WIDNES-based manufacturing business has been bought by a larger Midlands engineering firm.

Expert Group, which specialises in automation production systems, has acquired Tracoinsa Systems UK, which deals in conveyor systems for the automotive sector.

The financial terms of the deal have not been announced. Tracoinsa is owned by Albright Engineering whose shareholders are Alexander Lambie, William Quirk, James Hughes, and Colin Moore.

The acquisition will see Tracoinsa become the fifth company in the Expert Group and will increase revenues to more than £50m for 2014.

Tracoinsa directors will remain within the company while a structured transition of management will take place over the next two years.

Angelo Luciano, managing director of Expert Group, said: “We currently design and manufacture turnkey production systems for the automotive, aerospace and transport industries.

“We normally purchase material handling systems from other companies to incorporate within the systems we supply but this acquisition allows us control and reduce our dependency on outsourcing, as well as enhancing the portfolio of products we can offer to other engineering companies thereby adding another string to our bow.”

Luciano suggests Tracoinsa, which employs around 20 staff, will benefit from being a part of a larger group.

“We hope to build on Tracoinsa’s excellent reputation for reliable, high-quality material handling systems as we strengthen our position as a global supplier of tooling and automation systems,” he said.

Haydn Jones, a partner at law firm Band Hatton Button, acted on behalf of Expert Group.

He said: “We have represented Expert Group for over a decade and have witnessed the firm’s continued growth and development as it diversifies and strengthens its services within the automotive and transport industries.
 
“The acquisition of Tracoinsa is the latest in a string of strategic acquisitions undertaken by the firm.”