From left to right: Phil Curtis, Peter James and Ian WynterAerofab Fabrications Ltd
has acquired fellow Leicester company Paton Precision Engineering Ltd in a move that secures 18 jobs and creates a platform for growth opportunities for both companies.
Oadby-based Paton Precision Engineering has enjoyed a long-standing business relationship with Aerofab Fabrications and will become part of the Wigston fabricator’s group of companies, although it will retain its name and remain at its existing facility.
Aerofab Fabrications, a family-run business, employs 40 people and designs, manufactures and installs bespoke metalwork, ranging from assembly lines for food producers to bespoke sculptures for boutique hotels.
The acquisition for an undisclosed sum strengthens the positions of both businesses, which have traded strongly through 2020 and are optimistic about the future. Aerofab Fabrications in particular is seeing growth from its existing customer base and is also establishing itself in markets where it has a track record, but that has not been its sole focus.
It plans an investment package for Paton Precision Engineering that will include new IT infrastructure and software.
Peter James, Aerofab Fabrications director, said that the acquisition of Paton Precision Engineering is a deal that benefits both companies because it formally cements their long-standing relationship.
He said: “We have worked closely with Paton Precision Engineering for more than 20 years, and the opportunity to bring them into the fold of Aerofab Fabrications ticks every box for them and us. This acquisition is a landmark for our business and opens the door to a lot of exciting new opportunities.
“Its experience in precision machining is second to none, and we are gaining an incredible amount of additional expertise that will enable us to strengthen our proposition for customers, who often require bespoke fabricated solutions.
“The team at Paton Precision Engineering are just like us in the fact that they can come up with solutions for customers that other engineering companies either do not think are possible or simply cannot deliver.”
As part of the acquisition, Phil Curtis and Ian Wynter will remain within the business and continue heading up the management team.
Mr Curtis said: “We are delighted to become part of Aerofab Fabrications’ group, as this is a win-win and makes complete sense because the companies are so closely aligned anyway, with a can-do attitude for finding bespoke machining and fabrication solutions.”
My Wynter added: “Paton Precision Engineering has been established for many years, and we are very pleased that the name will continue, as we have built up a good reputation as a machining company.”
Aerofab Fabrications is very confident about the platform that the acquisition gives the business to grow and speaking of the future. Mr James continued: “The acquisition helps to retain very experienced people at a time when there is a real skills shortage in the fabrication sector of the manufacturing industry.
“The hope now is that the growth of our business can be a positive factor in our ability to attract more people into fabrication because it is a great career path for those interested in engineering.”