Buyout at specialist Wigan engineering firm
Moore and Smalley has advised on a deal which has seen a specialist Wigan engineering business bought out by one of its co-founders.
Netenvoy Ltd, which was founded in 1984 and trades as Pyramid Tool and Die, has been acquired by Paul O’ Brien from his fellow shareholder and brother Eddie O’ Brien for an undisclosed sum.
The £1.5m turnover business, which employs 16 staff on the Lamberhead Industrial Estate in Pemberton, makes specialist rubber, injection and blow moulding dies for a wide range of industrial applications.
Stephen Gregson, corporate finance director at Moore and Smalley, said: “Eddie and Paul have built up the business over many years and it has been very successful in this specialist area. This deal allows Eddie and his wife Jean to retire, while putting the business on a firm footing for the future under Paul’s continued stewardship.”
Partner at Moore and Smalley, added: “Eddie, Jean and Paul have been clients of Moore and Smalley for many years. It’s always pleasing to be able to see a longstanding client realise value from a business that they’ve put their heart and soul into for so long, so I’m delighted for Eddie and Jean. Meanwhile, Paul knows the business inside out and I’m sure it has many more successes ahead.”
Pyramid Tool and Die provides a number of specialist engineering services, including precision machining and sub-contract manufacturing, plastic injection moulds, and rubber injection and compression moulds.
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