A Cardiff-based engineering-services business intends to more than double its turnover in the next three years after rescuing a failed Yorkshire company. Cyrus-RW Group has acquired hydraulic engineering company Bradford Cylinders.
The deal was set up by administrator Robert Adamson from the Mazars accountancy firm and saves 13 jobs.
Managing director Ian Watkins said: “We were attracted by the Bradford Cylinder name, the work and obvious skills of the workforce, and its long tradition of being one of the UK’s top hydraulic engineering firms. Sadly, many people lost their jobs when the firm went into administration, but we intend to re-build the workforce; we will be recruiting in the future.
“Initially, our main focus is to build up Bradford Cylinder’s order book and invest in the business to improve the plant and equipment. We have spent more than £3 million on plant in the last year, so we are well placed to strengthen Bradford Cylinders’ capability in this area.”
Previous acquisitions by Cyrus-RW Group include Technical Electrics in Cwmbran in 1998, Newcastle-based transmission and gearbox business Richardson Westgarth in 2001 and engine-design business Taylors in Briton Ferry in 2009.
Bradford Cylinders has been in business for more than 100 years, designing and manufacturing engineering products. Following a drop in orders and a decline in sales volumes, it went into administration on 4 April.