Plymouth-based Fine Tubes has been sold to private investment firm The Watermill Group to enable international growth.
Fine Tubes manufactures high specification, engineered tubing for challenging applications in the aerospace, nuclear, medical and oil & gas industries. Its product have also been used in high profile scientific applications such as the CERN Large Hadron Collider in Switzerland.
Fine Tubes employs 380 people and is on track to achieve record revenues in 2012 – an achievement which will build on the company’s significant growth record in recent years.
Managing director Ronen Day explained that the acquisition of the company is designed to further enable that expansion. “Our new owners bring resources to our company that will be key to the next phase of our growth”, he said. “We’re looking forward to investing in our business to build a stronger global presence.”
The Watermill Group will also acquire Fine Tubes’ sister company in the USA and Steven E. Karol, founder and managing partner at The Watermill Group said his strategy-driven firm planned to “capitalise on the complementary strategic, technical and market strengths at each company to develop a thriving industry leader that can scale its production and grow alongside its customers.”