Cygnet merges group operations
ENGINEERING company Cygnet Group has completed a restructuring, combining two companies in a move which it said will make it easier for customers and suppliers to deal with it.
The family-owned, Middlewich-based company has merged its Cygnis and Cygnet Engineering Developments subsidiaries to form a single business unit, CYGNET Integrated Solutions. It will supply automation systems and bespoke machinery for for various industries including the automotive and aerospace sectors.
The group, which was founded in in 1974 as Texkimp, is still run by its founding family and operates from an 18,000 sq ft facility in Middlewich which was was opened by chancellor George Osborne two years ago.
Each of the businesses turned over £3m in 2011 and are expected to fulfil £20m worth of orders in 2012.
“The merger is designed to simplify our group structure and strengthen our brand,” said owner and managing director Matthew Kimpton-Smith.
“Combining the expertise and track-record of these two closely-associated businesses will give us a stronger, clearer proposition and help us to secure larger projects, working capital funding and attract the best engineering talent.
“With many of our customers and suppliers already engaging with both businesses, this move is designed to reinforce those relationships and allow us to complete projects more efficiently.”
The combined operation will work with other group companies including technicle fibre and fibre processing firms Texkimp & Web Processing, as well as its coupling and connector business, SECC, which operates in the oil & gas sector. It also has a recruitment arm, Perpetual Partnerships and a US subsidiary known as Cygnet USA.
The group manufactures 99% of its products in the UK and exports 90% of them. It iemploys 85 people, and is forecasting that sales will double in the year to November 30 to £16m.
“Our ambition is to be recognised as a centre of engineering excellence in the UK, where engineering graduates, experienced engineers and school leavers with great practical aptitude want to work and where we can offer them a fulfilling career and exciting opportunities,” said Kimpton-Smith.
