Atherstone-based Universal Heat Transfer (
www.universalheattransfer.com), which specialises in the supply, repair and servicing of heat transfer and heat exchanger equipment, has been acquired by Barnsley-based Thornhill Heat Exchangers with the support of Barclays and Finance Yorkshire.
The latter, which was established in 1998, employs 155 people and makes gaskets for customers in the UK and overseas, expects its revenues to reach £12 million this year.
Its chief executive, Mike Thornhill, said: “We have been looking to expand the business for some time now;
with low interest rates and a more stable economic outlook, we felt the time was right to invest. Universal Heat Transfer operates in the same sector and gives us the opportunity for growth.”