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Growth plans for former Renold Group machine tool business
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18/12/2006
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In an official announcement made on 11 December, further details of the Renold Precision Technologies Group machine tool activity acquisition were revealed.
In addition to the involvement of Venture Private Equity (VPE), Ferranti Capital also provided financial backing for the deal to acquire the former Renold Precision Technologies Division that comprised Jones & Shipman (a manufacturer of precision grinding machines) Edgetek (a manufacturer of superabrasive machine tools) and Holroyd (a manufacturer of specialist rotors and gear cutting machine tools.).
VPE and Ferranti said they have plans to develop an international group of precision machine tool manufacturing companies.
VPE and Ferranti specialise in investing and developing precision engineering and manufacturing companies. Ferranti’s investment model also involves the merger of western and Chinese businesses to create leading global companies that are capable of dominating their market sector.
"We are extremely pleased to acquire Holroyd Edgetek and to be the owner of such well respected and technologically leading brands. We plan to grow and develop the Holroyd Edgetek business and strengthen their position in international high growth markets," said Adrian de Ferranti (pictured) of Ferranti Capital.
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Author
Andrew Allcock
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