Midlands based global chemicals and surface coatings specialist Norman Hay plc has acquired SIFCO-Applied Surface Concepts (SIFCO-ASC), a subsidiary of US giant SIFCO Industries, in a deal advised on by Clearwater Corporate Finance.
SIFCO-ASC, based in Cleveland, Ohio, is one of the world’s largest manufacturer and suppliers of process equipment and associated chemicals for selective electroplating and anodising. It has other operations across the USA and Europe, including the UK, Sweden and France.
The company supplies many of the world’s leading aerospace, oil and gas and power generation businesses by helping to improve component performance and reduce manufacturing costs.
Headquartered in Coventry, Norman Hay plc is a global chemicals, sealant, surface coatings and engineering specialist that has been trading for more than 60 years. The deal expands its worldwide surface technology business.
Vic Bellanti, chief executive of Norman Hay, said: “This is an excellent acquisition for us and fits into our strategic plan to expand the Norman Hay Group internationally into areas that have a clear synergy with our existing businesses. The SIFCO-ASC business will benefit greatly from our Surface Technology contacts and locations both in the UK and overseas and we are excited about opportunities that we have already identified for its future growth.”
Peter Hay, chairman of Norman Hay added:“I am delighted to welcome all the staff, agents and distributors of SIFCO-ASC into the Norman Hay Group. We will work hard with our new colleagues to develop further the outstanding brand and reputation that SIFCO-ASC has built up over the years into new Countries and locations where our Group is already located.”
Philip Nuttall said: “This strategic acquisition allows Norman Hay to expand its services into new international markets and sectors. The company will be strengthened by SIFCO-ASC’s contracts in Europe and North America, and there is great potential for future growth.”