A successful family-owned Lincolnshire business has announced that it has taken over another manufacturer to accelerate its expansion plans.
Hexadex Ltd, headquartered in Gainsborough, has purchased CWM Automation Ltd, which is also based in the town.
The purchase is set to help the company diversify into new markets.
Will Milles, executive chairman of Hexadex, said: “Our aquisition of CWM Automation Ltd forms part of the group’s strategy to develop new markets outside of our current predominant automotive focus.
“There is a complementary fit of skills and we believe the extra size and strength of our group will allow CWM Automation to capitalise on, and exploit, the large number of opportunities that are emerging in its traditional markets.
“We are committed to the Gainsborough area and believe this move will benefit both sets of our
employees and the local economy.”
The Hexadec Group can trace its origins back to 1978 with the formation of Eminox Ltd which has grown to be one of the largest companies in Gainsborough.
It also has a strong internation reputation, with operations across Europe, North America and the Far East.
The operations concentrate primarily on the automotive sector and they make extensive use of automated machinery in their existing facilities.
The CWM site is immediately adjacent to Eminox and the businesses had already been collaborating on various projects together.
But this acquisition is primarily driven by the growth potential offered by CWM Automation in new market sectors for Hexadex, like the food industry.
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