Byron Head, the engineering chief and former High Sheriff of the West Midlands, has acquired a Rochdale-based die-casting company in an acquisition advised by Midland law firm Freeth Cartwright.
Mr Head, the owner of the Smethwick-based Rical Group of engineering companies, teamed up with Freeth Cartwright to acquire Kenwell Precision Diecastings for an undisclosed sum.
He described the move as a “strategic addition” to the Rical Group, which specialises in presswork components, die-castings, sheet metal punching and fabrication.
Mr Head, who was recently appointed Deputy Lieutenant of the West Midlands, said: “The die-casting industry is ripe for consolidation and Rical is ready to be a part of that process.”
Paul Marsh, Rical’s group financial director, said: “In the current tough manufacturing environment, the deal further consolidates Rical as a strong and capable business partner supplying a broad product portfolio to customers in the automotive, construction and general industrial sectors.
“The acquisition will reinforce the Birmingham-based Avon PDC division, which specialises in high quality zinc and aluminium die-castings.”
The Kenwell business will relocate from Rochdale to the Avon site and will boost Rical’s annual turnover to £25 million, with more than 300 employees at its William Mitchell, Fellows, Multiforms, Avon PDC, Taurus, Mitchell Grieve and Priory manufacturing divisions, predominantly in the Midlands.
Lee Clifford, corporate finance partner at Freeth Cartwright who advised on the deal, said: “Rical has acquired a well established business, renowned for the manufacture of high quality engineering products. Kenwell should not only be a sound strategic fit for Rical, it should also be a profitable one.”