Manufacturer eyes global expansion with acquisition
A West Midlands foam and rubber manufacturer has doubled its workforce and expanded into the global market after acquiring a local manufacturer.
Alanto, based in Walsall and a part of Jacobs & Thompson Inc has acquired Ramfoam, a distributor and fabricator of polyethene.
The firm manufactures a range of foam and rubber products for various industries, including marine, construction, automotive, and electrical sectors. These products range from body armour and riot gear for police forces to scraper blades and window seals for automobiles.
Kieran McCormack, chief financial officer of Jacobs & Thompson, the parent company of Alanto, said: “This is a transformative acquisition for Alanto, turbocharging the growth of our forward order book, expanding the range of products we offer to our customers, and bringing new concepts to our service offering.
“And while it is no secret that UK manufacturing is continuing to face supply chain issues and labour shortages, we are determined to set clear targets to maintain our success. With this latest round of support from Lloyds Bank, our goal to deliver consistent double-digit revenue growth over the coming years is even more achievable.”
This move has elevated the firm’s annual turnover from £10m to £20m, doubling its UK workforce and adding three new local manufacturing facilities.
With this acquisition, Alanto aims to better cater to its primary customer base in the region, streamline transportation systems, create more job opportunities, and reduce its carbon footprint. Additionally, it provides a foothold in the Middle East.
This expansion was made possible with a £3.8m loan from Lloyds Bank.
Rob Taylor, relationship manager for Lloyds Bank said: “Building on its heritage as the UK’s manufacturing heartland, the West Midlands is continuing to attract investment from major global players like Jacobs & Thompson, with ambitions to expand their existing footprint in the region – a major boost for the local community.
“This acquisition also ensures the enlarged Alanto business can effectively capitalise on rising demand for its products both here in the UK and in the Middle East while delivering significant value through operational and transport efficiencies. We’ll continue to be by the side of the business as it embarks on the next stage of its growth journey.”