14 October, 2008
Darwen based WEC Group has acquired Liverpool based 5750 Components Ltd for an undisclosed sum.
WEC Group, headquartered in Darwen, comprises five divisions, each specialising in different aspects of fabrication engineering.
5750 Components Ltd is a specialist laser processing subcontractor that employs 20 staff and works with the region's industrial manufacturing base.
Daniel Milnes Corporate Partner at Forbes Solicitors who advised WEC Group on the deal commented "At a time when other companies are putting up the shutters it is a testament to our client's ambition that it is taking this opportunity to expand its operations by making this acquisition. WEC is a success story for the North West and we are proud to assist it in getting things done."
PM+M Corporate Finance provided corporate advice to WEC Group. Managing Director, Jim Akrill, added "WEC is a strong, growing business and the acquisition makes good strategic sense for them. This deal illustrates how, with the right approach and advice, it is still possible to get things done, even in the current, difficult economic climate."
The Manchester office of accountancy firm, Cowgill Holloway LLP advised 5750 Components Ltd. Corporate finance partner, Paul Stringer who led the Cowgill's advisory team commented: "WEC Group has a good reputation throughout the North West for its work within the engineering sector. This strategic partnership between WEC Group and 5750 will help to expand the service offerings of the group and its presence in the region."
Lockett Loveday McMahon Solicitors provided legal advice to 5750 Components.