A Runcorn manufacturer of hydraulic couplings and accessories has been bought by Tesserrae Holdings, a Yorkshire-based investment vehicle.
Betabite Hydraulics and Engineering has become the second company to be acquired by Tesserrae Holdings following its maiden deal to buy Cambridge-headquartered Cambmac Engineering in October 2013.
Set up in 1966, Betabite makes high pressure tube fittings and valves for the hydraulic, gas, automotive, chemical and nuclear sectors. It posted a turnover of £1.5m in the year to 30 April 2014.
"Betabite and Cambmac both have similarities in their manufacturing processes, which has already enabled us to put Cambmac work through the newly-acquired company," said Doug Bedford, director of Ripon-based Tesserrae Holdings.
"Betabite’s location is important, and we now aim to raise its profile as a manufacturer of bespoke components serving the North West."
Tilly Bailey & Irvine Solicitors and Evolution Business and Tax Advisors advised on the deal.
Read more at www.insidermedia.com