Castings firm Truscanian charts growth after sale
A BLACK Country castings firm is targeting growth after being sold in an undisclosed deal. Truscanian Foundries, based in Oldbury, has been purchased by W Lucy & Co, of Oxford.
Truscanian, which was founded in 1982, will continue to trade from its site on St Martin’s Industrial Estate with the existing management team remaining in place.
W Lucy’s existing iron foundry business – Sandawana Casting Limited – is based in Oxford and the acquisition of Truscanian, a specialist aluminium foundry, will complement the company’s existing operations.
Truscanian supplies a range of castings for various engineering sectors, specialising in heat exchanges, electrical switchgear and similar products.
Law firm Hawkins Hatton acted as lead adviser to the principle shareholders of Truscanian Foundries, Graham Shore and John Harris, working alongside Paul Cutter, from David Cutter & Co, the Halesowen-based chartered accountants.
Colin Rodrigues, corporate partner for Hawkins Hatton, said: “The new owners intend to further develop the business at the Oldbury site and with increased backing in terms of size, resources and financial strength, customers and staff can be confident about the future.”
Graham Shore, director at Truscanian Foundries, said: “Hawkins Hatton led us through the arduous process of selling the company. We were given a fixed price for the work involved and throughout benefitted from a great deal of time, advice and assistance in bringing the sale to a successful completion.”
