Manufacturer joins group of ‘world-leading’ engineering companies
Manufacturer Vee Bee Filtration has become part of a group which wants to bring together “world-leading engineering and technology companies”.
The deal, for an undisclosed sum, sees the Stourbridge-based company become part of the Signum Technology family, which already includes manufacturers Gall Thomson and KLAW.
Signum is backed by private equity firm Phoenix Equity Partners, which manages funds of more than £900m and specialises in medium-sized UK businesses.
David Hill, chief executive of Signum, said: “Vee Bee is a respected brand with over 45 years of experience in its sector. Vee Bee possesses tremendous potential and is a welcome addition to the Signum Technology Group.”
£10m-turnover Vee Bee made pre-tax profits of £1.9m in its latest financial year, to September 2016. It employs around 60 people at its West Midlands headquarters, where it manufactures specialised filtration equipment for industrial and commercial applications.
KPMG’s Surinderpal Matharu and Adam Rathbone acted as advisors to Vee Bee on the sale of the business.
Matharu, associate director and head of UK flow control M&A at KPMG, added: “This deal recognises the reputation that Vee Bee holds in the marketplace and secures the ongoing legacy of the business inside a larger, strategically complementary group, who will help to support its future growth plans.”