A Birmingham engineering plant has closed following a buyout deal and the retirement of its founder.
Sharpe Tooling was started in 1988 by Stewart Sharpe and specializes in bending die tooling.
Belgrave & Powell, a specialist investor based in Tamworth, acquired all of the company’s share capital and relocated its services to the company’s operations in Preston, creating six new jobs.
Terms of the contract are not disclosed.
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The new acquisition is part of Belgrave & Powell’s Machine Technology Group, which includes specialists in high quality machine tool products, robotics, manufacturing and automation spanning a wide variety of industry sectors. applications such as rail, power and energy.
The takeover is Belgrave & Powell’s fifth transaction to acquire a small business in the past 18 months, focused on UK-based specialist engineering services such as machine tool services, manufacturing and distribution .
The group now operates from facilities in Preston, Tamworth, Rochdale and Plymouth.