Umeco is to expand its composites division with the acquisition of George Cole Technologies, which trades as Primco, for a cash consideration of £3m.
Primco, based in Manchester, is a composite materials business that develops and manufactures phenolic resin based pre-impregnated materials used in aerospace, defence, industrial, medical and sporting applications. Primco holds a number of product qualifications including those related to Airbus interior materials.
The company, which had sales of £5.4m in the year ending October 2007, is being acquired through Advanced Composites Group (ACG), a member of Umeco Composites.
Clive Snowdon, chief executive of Umeco, said: ‘The Primco acquisition further illustrates the progress Umeco has achieved in delivering complimentary growth to the group both in the UK and overseas.’