The Corporate Finance team at PM+M – the Blackburn based chartered accountancy, business advisory and wealth management group – along with Forbes Solicitors’ Corporate team, have acted for the Bury-based heat treatment arm of WHT Holdings Limited in its acquisition of Metaltech Limited. The value of the deal has not been disclosed.
Wallwork Heat Treatment Limited, a subsidiary of WHT Holdings Limited, operates the group’s aerospace heat treatment facility from its Bury site as well as servicing commercial heat treatment for the north of England, Scotland and Ireland.
Metaltech Limited, which is based in County Durham, was formed in 1981 by Ron Scott. Dr Graeme Forster joined the company in the early 1990s and became its managing director. Over the past few decades the firm has become one of the UK leaders in the thermal processing of metals, providing a wide range of heat treatment services to national and international clients.
Luke Collins, a graduate engineer who has worked at the Wallwork Group for 12 years, will join Dr Forster as site director at Metaltech.
The team at PM+M was led by Jim Akrill, partner. The firm provided valuation services, support on the deal structure, price negotiations, financial due diligence and project management through to completion. Whilst all legal aspects were handled Jennifer Bell who is an associate and head of Transport at Forbes.
Luke Collins commented: “This is a good fit for us and strengthens our range of metal heat treatments, hard coatings processes and customer service promise. Adding a facility in the North East means we can provide an even faster service to customers there and extend our transport service into Scotland, giving greater flexibility within our Manchester, Birmingham and Cambridge sites for further growth.”
Jim Akrill added: “We have worked with WHT for some time now providing specialist tax and commercial advice and we are very proud to have supported the group with this strategic acquisition. We wish them well in this next phase of their growth strategy.”
Jennifer Bell said: ““It was a pleasure to work with WHT on this transaction and I wish them all the best with the Metaltech business and their future growth plans.”