Acquisition of Business!
LPA is pleased to announce that an agreement has been signed to acquire the UK trade and assets of a power supply provider.
LPA has reached agreement with Eaton Electrical Products Limited to acquire Eaton’s Powertron business. The Acquisition includes the UK trading division and assets, including its small manufacturing capability in Cambridgeshire. The Acquisition is complementary to a number of power supply products the Company currently manufactures for the rail industry. Some of the components being outsourced by the business will in future be manufactured by LPA in Yorkshire and given LPA’s existing extensive sales network, the Group anticipates that it will increase these sales volumes over time.
Robert Horvath, Chairman said “The addition of more stable month on month product is a key part of our ongoing strategy to keep our manufacturing units productive and this Acquisition, importantly will support our delivery against our strategy. This Acquisition, and the acquisition of the Red Box business announced last year, while both small, are going to make a significant difference to monthly sales volumes that we can build upon, supported by our international distribution network. We are also seeing good progress in increasing the sales in the connector side of our aviation business as well as our Channel distribution business.”
To read the full announcement, click here.