Two Gainsborough manufacturers have announced they are to join forces.
Hexadex Ltd has acquired CWM Automation Ltd, a specialist manufacturer of automated machinery.
Family-owned Hexadex said the purchase would help accelerate its expansion plans and diversify into new markets.
Executive chairman Will Milles said: “Our acquisition of CWM Automation Ltd forms part of the group’s strategy to develop new markets outside our 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 absolutely committed to the Gainsborough area and believe this move will benefit both sets of our employees and the local economy.”
The Hexadex 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, with a strong international reputation. The group also owns Teconnex Ltd, Ceramex Ltd and Hooton Engineering Ltd, the latter also based in Gainsborough.
Mick Williams, Managing Director of CWM Automation Ltd, said: “We are delighted to join forces with Hexadex, which is a successful and growing group of companies with a strong reputation for engineering excellence and a commitment to innovation.
“The financial strength of Hexadex will enable CWM Automation to grow more rapidly and to extend our range of products and services for our customers in the future.”
A spokesperson added CWM had the skills and expertise to support the growing needs of the Hexadex Group in automated machinery for its factories.