AVPE Group has announced the acquisition of Altec CNC, the precision manufacturing division of Altec Engineering Limited.
Image courtesy AVPE Group
The acquisition of Altec CNC is the latest example of AVPE Group's strategy to consolidate leading SME component manufacturing businesses to create a reliable and resilient multi-sector Group.
Altec CNC - which will be renamed AVPE Durham later this year - is a supplier of complex machined components, grinding and surface coatings for the aerospace, medical, energy, rail and automotive industries and is enhanced by a strong R&D and Project management capability. The business will continue to operate from facilities in Bowburn, County Durham and Paul Lackenby, Altec CNC’s Managing Director, will become Chief Operating Officer (COO) of AVPE Group.
Duncan Frame, CEO of AVPE Group, said: “Altec CNC is a terrific addition to AVPE Group. The specialist capabilities, highly experienced workforce and creative problem-solving capability it brings will complement our existing value proposition, whilst its extensive customer base in the medical, energy, rail and automotive sectors will take the Group into new markets. There is broad cultural alignment too, with a clear focus on driving operational excellence to be a reliable partner in delivering customer value in a collaborative and transparent manner.”
AVPE Group was formed earlier this year by the merger of AVPE and Redcliffe Precision, two CNC manufacturing businesses with operations in Bristol and customers throughout the UK, Europe and Asia. The addition of Altec CNC will add a third site in the North East of the UK as well as new capabilities and a diverse customer base, both in the UK and globally.
Paul Lackenby, Managing Director of Altec CNC, said: “I am delighted that Altec CNC has become part of AVPE Group. The combination of our unique offering and the resources of the Group is an exciting development for our customers and employees. I am looking forward to working with teams throughout the business in my new role as COO.”