Avingtrans Acquires Booth Industries
Avingtrans PLC is pleased to announce the acquisition of the trade and certain assets of Booth Industries Limited, a leading UK engineering company, for total consideration of £1.8 million.
Booth, based in Bolton, has a total of 90 employees and focuses on the design and manufacture of blast doors and prefabricated fire and blast wall systems, fire doors (integrity and insulated) for both off and on-shore applications, radiation shielding doors, acoustic doors, security doors, multi-performance and large bespoke doors. Booth’s products are sold into a range of markets including offshore oil and gas, marine, rail and infrastructure, tunnels and mining, security and counter terrorism, aviation, nuclear, commercial and industrial, spares, maintenance and repairs.
It is intended that Booth will be integrated within the Company’s Process Solutions and Rotating Equipment (PSRE) division, bringing new expertise to the enlarged business.
Steve McQuillan, CEO of Avingtrans, commented:“This strategic acquisition allows Avingtrans’ PSRE division to further expand its offerings and create synergies for its key clients. The acquisition of Booth adds to the foundations of the PSRE division and exemplifies our strategy to build shareholder value by bringing together niche businesses, fusing their individual capabilities and complementary activities to achieve critical mass.”
Austen Adams, Managing Director of the PSRE Division, commented: “The nature of the Booth business is akin to existing businesses in the division. Some of Booth’s key customers overlap with those of Metalcraft and Peter Brotherhood, which affords PSRE the opportunity to expand its offerings to these accounts. We are confident about restoring Booth to clear leadership in its chosen market niche.”