Sheffield manufacturing business sold
MANUFACTURER Deritend Industries has announced the sale of its Sheffield subsidiary, Preformed Windings, for an undisclosed sum.
Preformed Windings will join the electric machines group of companies owned by Clyde Blowers Capital (CBC).
The sale is being viewed as a highly positive move by all parties, as Preformed Windings’ business has a natural synergy with the profile of companies owned by CBC. Wolverhampton-based Deritend will now focus more on its core business of providing asset management maintenance services to a wide range of customers.
Deritend was advised on the deal by Orbis Partners and Gateley.
Richard Hale, group managing director for Deritend Industries, said: “We’re pleased to have found a good home for Preformed Windings, as the nature of their business is an excellent fit.
Kerr Picken, business strategy director for the electric machines group of companies, said: “We intend to continue to develop the Preformed Windings business by increased investment in products, plant, premises and people, which in turn will create new job opportunities. We’re also going to be extending the range of HV coils and delivering a more flexible offer to meet the needs of our customers, which include OEMs and service companies.”
Following the acquisition, the business will continue to operate from its current base in Sheffield.
Hale added: “In the meantime, the sale will also enable Deritend to concentrate on what we do best by providing whole life cost asset management services for our customers. Our long term plans are to grow the company organically and through potential acquisitions over the next few years.”
Deritend assesses, plans, programmes and project manages the maintenance and repair of business critical equipment. Using bespoke systems, it maintains plant and equipment to improve its longevity, while also delivering cost savings.
In addition, Deritend operates on-site maintenance programmes and in-situ repairs, with its workshops equipped to manufacture any part required.
Key services are asset management, maintenance and repair and other services available include shop services, metal fabrication, pipe fabrication and fitting and electronics.
