Metalcraft acquires Booth Industries for £1.8m
Stainless Metalcraft, part of Avingtrans PLC, has acquired the trade and certain assets of Booth Industries Limited, a leading UK engineering company, for £1.8 million.
Metalcraft is part of Avingtrans' Process Solutions and Rotating Equipment Division, which designs, manufactures and supplies original equipment, systems and associated aftermarket services to the energy sector.
Booth Industries, which is based in Bolton, has 90 employees and focuses on the design and manufacture of blast doors and prefabricated fire and blast wall systems, fire doors, radiation shielding doors, acoustic doors, security doors, multi-performance and large bespoke doors. Its products are sold into a range of markets including offshore oil and gas, marine, rail and infrastructure, tunnels and mining, security and counter terrorism, aviation, nuclear, commercial and industrial, spares, maintenance and repairs.
It was previously owned by Redhall Group plc, which was placed into administration on Monday (June 10), and was acquired from Christopher Petts and Sarah O’Toole of Grant Thornton UK LLP, who are acting for Redhall Group.
Austen Adams, managing director of Avingtrans’ PSRE Division, said: “The nature of the Booth Industries business is akin to existing businesses in our division, with some Booth customers overlapping with those of our Metalcraft and Peter Brotherhood businesses.
“The PSRE Division is already home to a number of great British engineering brands and we are confident in our abilities to restore Booth Industries to a clear leadership position in its chosen market niches.”
Booth Industries’ employs 90 people in Bolton, operating across four sites. Metalcraft has acquired the main Booth facility and secured licenses to operate across the other three local site locations.
In the year to September 30 2018, Booth Industries recorded revenues of approximately £11.7m and profit before tax of approximately £0.3m. Acquired net assets totalled approximately £2.5m as at the transaction date, excluding Booth’s existing cash and the company’s debtor book.