23 May, 2016
Forbes Solicitors' Corporate and Restructuring team has acted on behalf of WEC Group, one of the UK's largest engineering and fabrication companies, in a multi-million pound deal to acquire Coventry-based HTA Group.
The partnership deal sees the Lancashire-headquartered WEC Group further strengthen its dominant position at the forefront of the UK's laser cutting and fabrication sector.
HTA, which has a 130-strong workforce and a £10 million annual turnover, joins WEC Group to create a business with 800 employees and a projected £75 million turnover.
Pauline Rigby, Partner, and Nick Pickup, Associate Solicitor, of the central Lancashire-based Corporate and Restructuring team at Forbes, the largest legal practice in the North West outside the major cities, advised WEC on the transaction.
They were assisted by Blackburn-based PM+M Chartered Accountants.
Pauline said: "WEC Group dominates the UK's fabrication and manufacturing industry and we are delighted to have acted for them in a deal which sees two family companies join forces."
HTA, founded in 1973, is one of the UK's largest subcontract manufacturers. It is a leading supplier of laser cut parts, sheet metal components and fabricated assemblies. Like its new parent group it has a strong track record of investment in technology.
Andrew Sedgley, WEC Group Board Advisor, who liaised with Forbes on the deal, said: "Pauline, Nick and their team at Forbes gave us excellent support and service. Their effective and common sense approach to the transaction was of enormous benefit in getting the deal completed."
Wayne Wild, commercial director of the family-owned WEC Group, said: "This is an exciting new chapter for HTA Group, its workforce and its present and future customers.
"HTA's partnership with WEC Group will create a major new force in the UK's laser cutting and fabrication sector and allows both companies to offer more to our customers."
The HTA deal means WEC Group will now have around 800 staff working across nine sites in Lancashire, Yorkshire, Merseyside and the West Midlands.
Steve Hartley, WEC Group founder and managing director, said: "We are delighted to welcome HTA Group and its workforce to WEC Group. This is a logical move for us and for HTA and we look forward to the future with growing confidence."