The owner of Peterborough-based engineers Peter Brotherhood has just completed a new acquisition in a £1.8 million deal.
Avingtrans, of Chatteris, which bought the iconic Peter Brotherhood business two years ago, has now purchased Booth Industries, of Bolton, with the £1.8 million to be paid in cash from the company’s resources.
Austen Adams, managing director of Avingtrans’ Process Solutions and Rotating Equipment (PSRE) division, which includes Brotherhood and Metalcraft, said: “The nature of the Booth business is akin to existing businesses in the division.
“Some of Booth’s key customers overlap with those of Metalcraft and Peter Brotherhood, which affords PSRE the opportunity to expand its offerings to these accounts.
Mr Adams, who is also a member of the Combined Authority’s business board, added: “We are confident about restoring Booth to clear leadership in its chosen market niche.”
Booth Industries, which has revenues of £11.7 million and pre-tax profits of £0.3 million, has 90 staff and specialises in the design and manufacture of blast doors and prefabricated fire and blast wall systems.
Its markets include offshore oil and gas, marine, rail and infrastructure, tunnels and mining, security and counter terrorism, aviation, nuclear, commercial and industrial, spares, maintenance and repairs.
Steve McQuillan, chief executive of Avingtrans, said: “This strategic acquisition allows Avingtrans’ PSRE division to further expand its offerings and create synergies for its key clients.
“The acquisition of Booth adds to the foundations of the PSRE division and exemplifies our strategy to build shareholder value by bringing together niche businesses, fusing their individual capabilities and complementary activities to achieve critical mass.”