Horsham-based Phoenix Engineering 2009 Ltd (formerly Punctual Precision) — a tool-making firm that specialises in the manufacture, service and repair of caps and closure tooling for the plastics industry — has been bought by neighbouring firm Pentagon Plastics Holdings Ltd (www.pentagonplastics.co.uk), which first approached Phoenix last year with regard to developing a closer working relationship.

Following months of discussions, they agreed in June that Pentagon Plastics — solely owned by managing director Paul
Edwards — would complete a 100% share purchase of Phoenix for an undisclosed fee.

Mr Edwards said: “Phoenix uses a wide range of equipment that will be of benefit to Pentagon’s tool-making activities. Coupled with the proximity of Phoenix to Pentagon, this made for a very attractive opportunity. For many years, Pentagon has sub-contracted grinding and wire eroding work to Phoenix; in return, we provided CNC milling services.

“The quality of Phoenix’s work and the commitment of its staff have always been second to none, which gives us confidence that the level of customer service provided by the company will mirror the high standards of Pentagon.”

Although now owned by Pentagon, Phoenix will continue trading under its own name. Its factory facilities will be modernised over time, to bring them in line with those at Pentagon.

Mr Edwards adds: “We believe that — with suitable investment — Phoenix can take a larger market share and further develop its services into the caps and closure market, as well as provide sub-contract tooling activities to a wider customer base.”