Specialist rubber engineering firm continues to grow with further acquisition
A rubber engineering firm has continued its acquisition drive with the purchase of Lancashire-based Techmould, a specialist in vacuum moulding.
The latest move by DKL Rubber Ltd of Wem follows its acquisition in 2017 of Medcraft Bryden.
Established for over 30 years, DKL Rubber has been on a focused acquisition drive for the past five years and with the Medcraft Bryden business fully imbedded, director Robert Oakes began looking to further bolster the business.
He said: “Techmould was a business that we’d been aware of for a while. It has been very well managed and the closer we looked at it, the clearer it became that this could be a good fit for our own growing team. When we heard that the owners might be open to a sale, we started our discussions.
“The acquisition of Techmould will enable us to expand our overall offer to include both vacuum moulding and plastic moulding. We’ll also be able to pursue further contracts where specialist tool making equipment is required.”
The acquisition negotiations were impacted only slightly by the Covid-19 pandemic and overall, it was a smooth process. With the Techmould business becoming a wholly owned subsidiary of DKL Rubber, the combined workforce has grown from 14 to 23.
Both deals were secured with the assistance of Stuart Rea of FBC Manby Bowdler’s corporate team.
Stuart said: “Having supported Robert and his team on a previous acquisition, it has been a pleasure to see the business continue to grow, not least of all during a time of such heightened economic uncertainty.
“Their approach to acquiring other businesses is to be admired. They not only consider the complimentary attributes of the team, but importantly remain mindful of the personalities involved in such transactions and this in itself makes them a pleasure to support. I don’t doubt that I’ll work with the DKL Rubber team again.”
Robert’s growth ambitions continue, and he can foresee a future with further acquisitions.
He added: “We are keen to keep growing the company. The additional strength that we can now offer via Techmould and DKL’s combined service offering means we are well placed to win new business and create further local manufacturing jobs.
“If the right businesses become available in the future that would further bolster our overall market position, then we remain open to continued growth, so long as we can manage this in a sustainable manner. At such point as we’re ready to take this step, I wouldn’t hesitate to engage with Stuart and his team. Simply, they always understand what we’re looking to achieve and work in an entirely collaborative manner with all parties to ensure a successful deal completion.”
