Future of Hinckley-based engineering firm secured

1 min read

​The future of Leicestershire engineering company Automatic Engineers​ is secure after it was snapped up by acquisitive group TGM Partners from Steve Evans, who started with the firm as an apprentice.

Automatic Engineers has been manufacturing components for the aerospace, automotive, rail, energy and renewables sectors for more than 50 years.

TGM Partners specialises in the acquisition, transition and growth of owner-managed businesses. Co-founder Eric Kolodner said: "We are extremely pleased to add Automatic Engineers into the TGM group which, along with another recent acquisition, will bring our total annual revenue to almost £25m.

"The business will continue to operate from its existing premises and all staff will keep their jobs, to ensure a smooth and seamless transition for employees, customers and suppliers."

As well as Automatic Engineers, TGM has also recently acquired Barnsley’s Vesseltec UK, an engineering firm specialising in designing and manufacturing pressure vessels for the pharmaceutical sector and other industries.

Fellow TGM co-founder Jon Frewin added: "These two acquisitions will underscore our four-year track record of providing attractive exit solutions to long-term owners of SMEs in the engineering and industrial manufacturing sectors.

"These acquisitions allow us to expand our scope of manufacturing/engineering capabilities and services across a broader set of sectors and customers, including serving an increasing number of blue-chip corporates.

"Our flexible approach to acquisitions is reflected in both deals; the seller of Automatic Engineers is looking to transition out of the business quickly, while at Vesseltec, the seller is planning to continue providing services to the company for the foreseeable future.

"In the coming months, we will provide training to develop the skills and careers of relevant staff members, which reflects our focus on continuity, stability and growth of our acquired businesses."