Basingstoke-based Lada Engineering Services has been acquired by private-equity investor OVM (www.ownerventure
managers.co.uk).

Employing nearly 80 people, Lada was founded by Alan Saitch some 30 years ago; it offers CNC milling, CNC turning and sheet-metal fabrication services (plus CNC laser cutting, welding and metal finishing) to a wide range of industries, including aerospace and automotive.

Mr Saitch is retiring, but it is expected that he will remain associated with the business.

OVM director James Wooster said: “We are excited by the opportunity to help take Lada to its next growth phase.

"Alan has done a tremendous job in building the business from scratch and taking it to where it is today; we want to build on that legacy and exploit its considerable untapped potential. As part of that plan, we are particularly keen to acquire related businesses.”