Manufacturer acquired by engineering firm
A manufacturer of fasteners and brackets to a variety of industries has been acquired by a family-run engineering company.
Powell Gee & Co, which is based at Atcham Business Park near Shrewsbury and in Wednesbury, has been snapped up by Banbury-based Tibbetts Group.
Tibbetts supplies engineered products and components for the automotive, aerospace, industrial, construction and security sectors.
Powell Gee & Co, which was founded in 1949, makes high specification technical products such as self-drilling screws, rivets, bolts and gutter brackets.
Mike Mackey, sales director of Powell Gee, said: "At Powell Gee we have grown a business based on high quality specialist products, stock availability and technical knowledge and advice.
"We look forward to continuing our work with our valued customers and suppliers and with our new colleagues at Tibbetts, where we see great synergy for our products and services."
The shareholders of Powell Gee were advised on the sale by Springboard Corporate Finance, with the transaction being led by partner Ben Bolt and manager Jonathan Wright.
Mr Bolt added: "We are thrilled to have assisted the shareholders of Powell Gee to find an excellent new strategic home for their business.
"The cultural fit with Tibbetts Group is strong, providing an excellent platform for growth. We wish all parties the best for the future."
