Electo-mec sold to Avid Holdings
Electro-mec, the healthcare manufacturing company, has been sold by its founders to the AIM-listed company Avid Holdings.
The company was founded in 1969 by Mick Ellis and Brian Hansford and manufactures change part tooling and blister-pack feeding machines for the pharmaceutical industry.
The company has developed a strong customer base which includes many blue chip clients.
Mick Ellis said: “We are delighted to be selling our business to Avid Holdings.
“In Avid we have found a dynamic and ambitious company, which will be able to take Electro-mec forward to the next stage of its development.”
Jonathan Bobbett, chief executive of Avid, said: “Electro-mec provides an ideal fit and the acquisition is in line with the group’s strategy to seek out and develop businesses in the healthcare and specialist packaging sectors.
“Electro-mec is a successful business with a skilled and committed workforce and we believe there is great potential for further growth and expansion both in existing and new market sectors.
“In particular, we see a huge opportunity for the company’s products in mainland Europe.”
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