WEC Group makes strategic acquisition
WEC Group, the Darwen-based metal working company, has acquired 5750 Components in Liverpool for an undisclosed sum.
Knowsley-based 5750 Components is a laser processing subcontractor that employs 20 staff. WEC Group has purchased the company as a going concern to support its own laser division, Laser Engineering.
Wayne Wild, director and general manager for Laser Engineering, said: “The purchase of the company supports the group’s expansion strategy which includes the introduction of a new 26,500 sq ft purpose-built facility on Junction Street in Darwen.”
Due for completion later this year, the new site will house the Laser Engineering division, allowing the group’s other divisions to expand into its existing 100,000 sq ft facilities.
Forbes Solicitors advised WEC Group on the deal. Corporate partner Daniel Milnes, based in the Blackburn office, said: “At a time when other companies are putting up the shutters, it is testament to our client’s ambition that it is taking this opportunity to expand its operations by making this acquisition.”
PM&M Corporate Finance provided corporate advice to WEC Group.
The Manchester office of accountancy firm Cowgill Holloway advised 5750 Components, while Manchester-based Lockett Loveday McMahon Solicitors advised the shareholders of 5750 Components on the disposal of the business.
WEC Group, which has a turnover of £19m and employs more than 230 people, has four other divisions specialising in different aspects of fabrication engineering: Welding Engineering, Camera Mounting Solutions, Hi-Spec CNC and M-tec.
