Darwen firm takes over rival

9:50am Monday 20th October 2008

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A DARWEN company has taken over a rival firm as part of a major expansion.

WEC Group has bought 5750 Components, Knowsley, Liverpool, as a going concern to support its own laser division - Laser Engineering - which is also based in Darwen.

Knowsley’s 5750 Components was established nearly 15 years ago as one of the first laser cutting companies in the UK and employs 20 staff.

Wayne Wild, director and general manager for Laser Engineering, said: “This is an exciting time for the Group. The purchase of the company supports the group’s expansion strategy which includes the introduction of a new purpose-built facility on Junction Street in Darwen.”

WEC Group was established in 1979 and has currently has around 235 staff.

The company is a specialist metal fabricator with five divisions including Welding Engineering, Camera Mounting Solutions, Laser Engineering, Hi-Spec CNC and m-tec.

And business chiefs believe that buyouts such as this could be make good sense during the economic slum the country currently finds itself in.

John Green, chief executive of Pierce, the Blackburn-based business and accountancy group, said: “A number of businesses will be suffering, and looking for a merger or to be purchased by a larger company to bring some stability to its balance sheets.

“In this manner, it may currently be possible to acquire a business, or simply the assets of a business, or even just a piece of machinery, for a much more cost-effective price than normal.”

Blackburn’s Forbes Solicitors and PM and M Corporate Finance advised on the deal.