Paul Maynard, managing director of Traub Heckert UK, has acquired the machine tool importer from its German parent, Traub.
Maynard would not disclose how much he paid for the business, which had a turnover last year of £10.6m.
The buyout follows Traub’s sale to another German company, Index.
As part of the deal, Traub-Heckert keeps its name, and remains sole UK supplier for Traub and Heckert machines.
`We are delighted to be continuing as normal,’ said Maynard.
`All ongoing and future business is guaranteed and full spares and technical support are available from the UK team.’
Traub itself will continue to operate under the aegis of Index in Germany, but keeps its manufacturing operations running, under the name of Traub.
Traub filed for bankruptcy in October last year.