Looking for a used or new machine tool?
1,000s to choose from
Hurco MPU Bodor MPU Ceratizit MPU TDT Machine Tools MPU XYZ Machine Tools MPU

The online search from the pages of Machinery Market.

COLCHESTER STUDENT 2500 13" x 25" GAP BED CENTRE LATHE 1 5/8" Spindle Bore : 12 Speeds 40 - 2500 rpm...
BW Machine Tools Ltd

Be seen in all the right places!

Intermach 2020 Toolex 2020 MTA Hanoi ITM Industry Europe 2020 Advanced Engineering 2020 Metaltech 2020 Manufacturing & Supply Chain Expo Machine Tool Indonesia 2020 MACH 2021 Subcon Manufacturing Supply Chain Expo 2021 FITMA 2021

Global Japanese manufacturer acquires Welsh firm

Posted on 13 Dec 2019 and read 1205 times
Global Japanese  manufacturer acquires Welsh firmJapan’s Sumitomo Heavy Industries (SHI) has finalised a £100 million deal to acquire Welshpool-based Invertek Drives Ltd, which employs more than 240 people at its headquarters in Powys.

Established in 1998, Invertek (www.invertekdrives.com) manufactures variable-frequency drives that are used to control electric motors in a variety of industrial, commercial and energy-saving applications; its products are sold to customers in more than 80 countries world-wide.

SHI’s (www.shi.co.jp) acquisition of Invertek’s entire issued share capital will be followed by significant investment.

The deal was completed with the support of Shropshire-based law firm Aaron & Partners, which acted on behalf of the Invertek shareholders.

Stuart Scott-Goldstone, head of corporate and commercial at Aaron & Partners, said: “We are delighted to see this acquisition finalised, having worked very closely with the shareholders at Invertek throughout the process.

“The deal reflects the dedication, vision and ambition of the management team at Invertek.

“The company now has a fantastic opportunity to build on its success and further enhance its reputation.”

Invertek’s operations director, Charles Haspel, said: “We are very pleased to see this deal concluded, and we are excited about the future of the company with the power of the SHI resources now behind us.

“We have retained our management team as part of this deal, and we are now looking forward to pushing the Invertek brand into new markets and territories.”