A Midlands engineering company has completed the buyout of a firm which supplies material handling systems for industry.
Expert Group, based in Coventry and specialises in automation production systems, has acquired Tracoinsa Systems UK from Widnes, which deals in conveyor systems for the automotive sector.
The acquisition becomes the fifth company in the group and will increase the Group’s revenues to more than £50 million for 2014.
Tracoinsa directors will remain within the company while a structured transition of management will take place over the next two years.
Angelo Luciano, managing director of Expert Group, said: “We hope to build on Tracoinsa’s excellent reputation for reliable, high-quality material handling systems as we strengthen our position as a global supplier of tooling and automation systems.”
Haydn Jones, who is a partner at Band Hatton Button who acted on behalf of Expert Group, added: “The acquisition of Tracoinsa is the latest in a string of strategic acquisitions undertaken by the firm and it is terrific to see a Coventry bred company proving so successful.
“The latest deal marks another positive move for the firm and will allow Expert Group to enhance its expertise in material handling technology.”