Leeds-based Nimbus, a private equity firm, has acquired the Centrifugal Castings Division of Doncaster’s Group (
www.doncasters.com) for an undisclosed sum.
The division comprises Teesside-based Paralloy and South Yorkshire-based FVC; they provide specialist engineered
products for the domestic and international markets in the petrochemical and aerospace industries respectively.
Nimbus — a hands-on investor that focuses on European-based industrial companies with potential for improvement
— has backed the senior management team and will use its European footprint to support Paralloy and FVC’s growth and export plans.
Its investment director, David Keenan, said: “Paralloy represents a great example of UK manufacturing, despite these uncertain economic times.
“The combination of a strong management team, market-leading products and stated growth ambition provides the perfect setting for Nimbus to invest.”
Robert McGowan, Paralloy’s chief executive, said: “We are delighted to be working with Nimbus, as we believe that its background and expertise complement our strong management team. This transaction will enable us to position Paralloy and FVC for more growth, expanding our portfolio, capabilities and market reach.”