Parvalux Electric Motors has paid an undisclosed cash sum to Rubicon Partners for Essex-based geared motor manufacturer EMD Drive Systems.
Parvalux said it plans to align the two businesses to become the
The combined business is projected to turnover £18.5m in 2009 with an output in excess of 300,000 items manufactured solely in the
Justin Levine, managing director of Parvalux, said: ‘We are focused upon an aggressive growth strategy that the combined strengths of the new business will help to facilitate.
‘The management talent at EMD will complement our existing team, we will be able to expand our combined-product offer across Parvalux and EMD sales channels and the combination of R and D expertise of the respective development teams will offer significant advantages: specifically, we’ll be able to offer EMD’s application knowledge with Parvalux’s customisable geared motor technologies.'
Steven Clark, chief executive of Parvalux, said: ‘In EMD we saw a company that could benefit from our network of international distributors, from our marketing expertise and our strong international brand.
‘We also saw an opportunity to grow our specialist application knowledge and broaden our offer.’
Backed by private equity firm The Clark Group, Parvalux intends to invest further to modernise both production facilities and meet the evolving requirements of their growing base of international customers.
Poll: Should the UK’s railways be renationalised?
Well that goes both ways, doesn't it? I mean internal combustion drivers are already paying about 59p in the £ (+ the standard rate of VAT) on fuel....