Metaltech, a precision engineering business, has been acquired by Expromet Technologies Group
UK precision casting and machining group Expromet Technologies Grouphas acquired Metaltech Precision Ltd, a leading manufacturer of precision components for a wide range of demanding industries such as energy, scientific instruments, pump and valve, aerospace, defence, rail and marine. Metaltech is based in Chard, Somerset, employs 70 people and has extensive capabilities and experience in CNC turning, milling, fabrication and welding.
Alistair Schofield, CEO of Expromet, commented, “We are delighted to welcome Metaltech to the group and to extend the portfolio of precision engineered solutions that we are able to provide to our diverse customer base. The acquisition of Metaltech is the next step in the development of Expromet andthe business representsa strong fit with our existing casting and machining operations.”
Steve Hill, Managing Director of Metaltech, says, “Joining Expromet will strengthen our position as a leading precision machining and fabrication supplier by giving us access to a wide range of resources, expertise and investment that will benefit the business and its customers. We look forward to working together.”
Metaltechwas founded in 1973 and operates from a 50,000ft² factory on its 4-acre site in Somerset. It offers high quality precision CNC machined components and fabrications used within demanding markets such as energy, scientific instruments, pump and valve, aerospace, defence, rail and marine.
Expromet Technologies Groupis a privately-owned precision engineering group that also owns Investacast, a leading global supplier of investment castings, pressure die castings and forgings, with a manufacturing base in Devon and Haworth Castings, a specialist in manufacturing fully-tested, machined and finished sand and gravity die castings, located in Romsey and Basingstoke, Hampshire.
Isca Ventures acted as lead corporate finance adviser to Metaltech’s shareholders, with legal advice provided by Ashfords. Bishop Fleming undertook the financial due diligence and Irwin Mitchell provided legal advice to Expromet.