Midlands-based Triplex Components Group has sold Lloyds (Brierley Hill) to Amtek, an Indian automotive group. The Birmingham office of Clearwater Corporate Finance plc advised Triplex on the deal.
Lloyds (Brierley Hill) employs over 170 staff and is based at Brierley Hill near Stourbridge in the Midlands. It manufactures engine ring gears, timing rings and inertia rings which are supplied to global automotive engine manufacturers.
Amtek, with a turnover in excess of £100 million, is pursuing a global strategy in the manufacture of ring gears for both passenger and commercial vehicles, and the acquisition of Lloyds (Brierley Hill) provides Amtek with a European manufacturing capability to add to their already significant presence in India and North America.
Amtek’s chairman, Arvind Dham said; “The acquisition of Lloyds (Brierley Hill) provides Amtek with a European presence which is key to our global strategy, and we are delighted to acquire such a prestigious UK company as LBH. Together with our recent ring gear acquisition in the US, Amtek is now a major player in automotive ring gear manufacturing”.
Advising Triplex Components Group on the sale of Lloyds (Brierley Hill) were Birmingham’s Clearwater Corporate Finance plc, led by partner Andy Moore and deal leader Adrian Jones.
Clearwater’s Andy Moore commented, “The sale of Lloyds (Brierley Hill) to a truly global player such as Amtek demonstrates Clearwater’s cross border capability of securing such a purchaser for the business”.