A Birmingham engineering plant has closed following a buyout deal and the retirement of its founder.
Sharpe Tooling was launched in 1988 by Stewart Sharpe and specialises in bend die tooling.
Tamworth-based specialist investor Belgrave & Powell has acquired the entire share capital of the business and relocated its services to the company’s operation in Preston, creating six new jobs in the process.
Terms of the deal were not disclosed.
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The new acquisition forms part of Belgrave & Powell’s ‘Machine Technology Group’ which comprises specialists in high-quality machine tool products, robotics, fabrication and automation covering a wide variety of applications sectors such as rail, food and energy.
The buyout is Belgrave & Powell’s fifth deal to acquire a small company in the past 18 months with a focus on UK-based specialist engineering services such as machine tool services, fabrication and distribution.
The group now operates from facilities in Preston, Tamworth, Rochdale and Plymouth.