A Sheffield-based titanium castings foundry has secured \u00a315m of private equity investment from family office, Zachary Asset Holdings, to fund a move to new premises as demand for its products \u2018skyrockets\u2019.<\/p>\n
Established more than 100 years ago, Castings Technology, has reversed its fortunes since managing director Richard Cook and chairman Kevin Parkin led a management buyout in 2021. Following this latest investment, both Parkin and Cook will remain in their roles.<\/p>\n
As the UK\u2019s only commercial titanium investment castings company, demand for components has skyrocketed in the past few years, across all the sectors.<\/p>\n
Currently sharing facilities with the University of Sheffield\u2019s AMRC, on the Advanced Manufacturing Park in Rotherham, the company\u2019s order book outgrown its existing facilities requiring a move to its own, larger, dedicated site.<\/p>\n
Castings Technology was advised by Castle Square Corporate Finance which also acted on the MBO four years ago.<\/p>\n
Partner Kevan Shaw, who led the team advising Castings Technology, said: \u201cWe were delighted to be invited to manage this investment deal following our involvement with the company\u2019s MBO. It is fantastic to see the progress since that transaction, with the company experiencing 225% growth in sales more than a 25% increase in staff.\u201d<\/p>\n
Robin Haller of Zachary Asset Holdings added \u201cIt was great to work with Kevan Shaw and his team at Castle Square team again on this transaction.\u201d<\/p>\n
Wake Smith Solicitors provided legal advice to the management team, while BHP advised on tax matters.<\/p>\n
Rebecca Robinson, partner at Wake Smith Solicitors, said \u201cWe are proud to have supported Castings Technology through this significant funding development. The company has outgrown its facilities, and this investment allows it to move forward, and further its potential to become one of the largest Titanium foundries in the world.\u201d<\/p>\n
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Sheffield-based Titanium Castings Foundry has received private equity investment to fund a move to new premises as demand for its products \u2018skyrockets\u2019.<\/p>\n","protected":false},"author":271992,"featured_media":2141306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"coauthors":[137100],"class_list":["post-2141303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","tag-featured-story","tag-south-yorkshire","tag-yorkshire"],"yoast_head":"\n