BHW’s corporate team have advised Warwickshire-based, Engineering Technology Group (ETG), on their acquisition of HK Holdings and all of its subsidiaries from the Pexion Group.
Reacting to industry’s growing appetite for new production techniques, ETG were looking for a way to enhance their growing product portfolio with the latest machine tooling technologies.
Martin Doyle, Managing Director of ETG, said; “3D printing, in particular, has gone through the ‘proving’ stage and is now seen as a viable way of manufacturing for sub-contractors and OEMs. As a result, the surge in sales in the marketplace is huge and expected to hit $14bn globally by the end of 2020,”.
Following its acquisition of HK Holdings, ETG now boasts a single-source solution for CNC machining, wire EDM machines, 3D printing and additive manufacturing.
Martin continued: “Pexion Group is a key account for ETG, with multiple CNC machines installed across its group of companies. We knew it was reviewing how to develop HK Holdings so decided we would approach it about the possibility of integrating it into our business.”
ETG already delivers highly productive turnkey solutions to a growing customer base across the aerospace, automotive, high value engineering, medical and oil and gas industries. Its portfolio of world-class brands includes; Chiron, Nakamura, Quaser, Hardinge, Bavius and Stama.
The acquisition of HK Holdings gives it access to industry-leading brands in additive manufacturing, including 3D Systems and Markforged. On the EDM side, ETG will now sell the latest Mitsubishi and OPS-Ingersoll EDM machines, which include the fastest EDM model in the world.
Leading the team at BHW, Corporate Partner, Steve McElhone said; “I was delighted to advise Martin and ETG on this deal. They have a clear strategic vision and are executing a plan to realise this. This is undoubtedly a significant deal for the manufacturing industry.”
Commenting on the support received from Steve and the team at BHW, Martin said; “This was a key strategic deal for ETG in order to secure our position as the go-to supplier of the latest machine tooling technologies. Steve completely understood our approach and was able to navigate us through the deal in an efficient and diligent manner.”