Nylacast announces the acquisition of Supergrip (UK) Ltd
Supergrip (UK) Ltd, a world-class, innovative engineering company offering bespoke and standard polyurethane (PU) products for the Oil & Gas and Renewables sectors, has been acquired by Nylacast Engineered Products Ltd, a division of the Equistone-backed Nylacast Group.
Located in Colne, Lancashire (UK), Supergrip Ltd is industry-renowned for its wide range of high-quality PU products, including cable protection equipment, clamping systems, flexible riser equipment, pipeline isolation plugs, pipeline repair systems and subsea sealing systems. The acquisition of Supergrip will further expand Nylacast’s product offering and enhance its value-added engineered solutions services to its customer base within the Subsea, Marine, Gas, Oil, Offshore and Renewables industries.
The acquisition will also bring onboard MPC, a computer numerical control (CNC) subcontract component machining business based in Accrington, which was recently acquired by Supergrip Ltd In addition, the technical, engineering and project management team of Supergrip, based in Darlington, join the group.
Nylacast Group, a Leicestershire-based company in which Equistone invested in July 2018, services a global market through its two divisions: Nylacast Automotive and Nylacast Engineered Products. Today’s announcement significantly strengthens the capability of the Nylacast Engineered Products division.
Nylacast Group continues to actively pursue its growth strategy and remains committed to ensuring it offers enhanced value to its customers through the provision of engineering solutions. The addition of Supergrip Ltd to the portfolio will provide a single point of service and provide a wider range of solutions to its global customer base in Construction, Transport, Pharmaceuticals and other industries.
Mussa Mahomed, Nylacast Group CEO, said: "We are delighted to welcome Supergrip to the Nylacast Group. The acquisition brings together two successful, engineering solution-led companies. We are looking forward to working closely with Gordon, Darren and the team at Supergrip to assist the company in reaching its obvious potential.
“The acquisition of Supergrip, founded in 1989, with its history and capabilities solidifies our investment strategy, along with our recent acquisition of Viva Nylons in March. These investments will increase our product offering and widen our delivery capability to further enhance our service offering to our customers.”
Gordon Conlon, Director at Supergrip, said: "We are proud of what we have achieved at Supergrip since the rebranding in January 2015. We have seen significant growth in the business and the company is becoming known in the industry for delivering innovative, high-quality engineering solutions. However, we were also aware that we had reached a point where we would need additional support to grow the company further.
“Having worked with Nylacast for many years, we were delighted when the opportunity arose to become part of their business. This is an incredibly exciting time and, with an already huge synergy between both companies, this will help drive our growth further. The investment will enable us to offer increased support to our clients and allow us to develop alternative markets to increase demand for our products.”
Following the acquisition, Nylacast Group, which has three manufacturing plants in Leicester, along with its world headquarters, now adds facilities in Lancashire, Darlington, China, South Africa and the USA. Employing over 400 members of staff, Nylacast continues to strive to offer best-in-class services to a worldwide customer base with its custom-engineered, low-weight, low-friction, high-performance components to maximise production and minimise downtime.
The acquisition will see Supergrip (UK) Ltd become a wholly owned subsidiary of Nylacast Engineered Products Limited, preserving its brand for the foreseeable future.
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