Manufacturer buys rival
BOTH COMPANIES SET TO GROW
A METALWORKING company has bought out a local rival.
Aerofab Fabrications acquired Paton Precision Engineering in a move it said creates a platform for growth for both companies.
Oadby-based Paton Precision Engineering has had a long-standing business relationship with Aerofab Fabrications, which designs, manufactures and installs bespoke metalwork, ranging from assembly lines for food producers to bespoke sculptures for hotels.
It will now become part of the Wigston fabricator’s group of companies, but keeping its name and remain in Kenilworth Drive.
Aerofab employs 40 people, designing, making and installing bespoke metalwork in industries including food production, medical and pharmaceutical, transportation, rail, glass processing, construction and nuclear energy.
A spokesman for Aerofab said the acquisition – for an undisclosed sum – would strengthen both businesses
which he said had traded strongly through 2020.
He said Aerofab Fabrications in particular was seeing growth from its existing customer base and increasing its focus on markets it
had yet to properly make the most of.
It plans to invest in IT and software at the newly acquired company.
Peter James, managing director of family-run Aerofab, said bringing the two businesses together would formally cement their long-standing working relationship.
He said: “We have worked closely with Paton Precision Engineering for over 20 years, and the opportunity to bring them into the fold ticks every box for them and us.
“Their experience in precision machining is second to none, and we are gaining an incredible amount of additional expertise that will enable us to strengthen our proposition for customers, who often require bespoke fabricated solutions.”
As part of the acquisition, Phil Curtis and Ian Wynter will remain within the business and continue heading up the management team.
Mr Curtis said: “We are delighted to become part of Aerofab Fabrications’ group, as this is a win-win and makes complete sense because the companies are so closely aligned anyway, with a can-do attitude for finding bespoke solutions.”
Mr James said: “The acquisition helps to retain very experienced people at a time when there is a real skills shortage in the sector.”