Clearwater International has advised Tritech Group Limited (“Tritech”), a manufacturer of complex investment castings, on its cross-border sale to Uni Deritend Limited (“UDL”), part of the Neterwala Group of companies and India’s largest manufacturer of air-melt investment castings.
Tritech, a major supplier to OEM and Tier 1 aerospace groups such as Airbus and Goodrich, offers total, integrated manufacturing solutions to the aerospace industry, but also defence and other related industries. The group encompasses two major sites in Wrexham and one in Barnstaple and specialises in investment casting, a metal-forming technique used across a variety of industries.
UDL is a key player in the Indian investment casting manufacturing industry, producing more than 2,000 tonnes a year across a variety of different industries worldwide. The family-run business operates from three manufacturing facilities across India, employing over 600 people.
The deal sees Tritech’s current management team retain operational control of the business in the UK, maintaining its consistent high standards of engineering and supply chain management. The sale will enable Tritech to develop a larger product offering and provide increasingly cost competitive solutions to its customers.
The acquisition of Tritech will see UDL benefiting from access to precision engineering capabilities in the UK aerospace industry, providing direct contacts to major aerospace suppliers. This will enable them to develop a prominent position in the fast-growing domestic Indian aerospace sector.
Jon Hustler, Head of Industrials at Clearwater International, said: “We believe that Tritech is a high quality business whose new ownership structure will uniquely position the business as a nearshore farshore provider of solutions based on technology and cost.”
“Over 50% of Clearwater International’s UK led M&A transactions are cross border. The sale of Tritech is evidence of the growing interest being shown in the UK manufacturing industry from overseas.”