AN East Lancashire manufacturing firm has been bought – with bosses saying the deal secures the future of the company locally.
Option Technologies Europe Limited, based in the Carrs industrial estate, Haslingden, has been bought by Warwickshire-based Ventec Holdings Europe Limited.
Ventec has acquired the plant and machinery, stock, order book, company name and goodwill of Option.
The acquisition secures the future of Option Technologies’ factory in Haslingden and nine jobs at the site, with all employees being transferred to the new business that will continue to trade as Option Technologies.
The company is also looking to create two new jobs in the short term.
Option Technologies provides mass-laminated and drilling services to the European printed circuit board industry.
Mark Goodwin, managing director of Ventec Holdings, said: “Ventec is the fastest-growing laminate supplier in Europe and this acquisition is the latest step in our European business development strategy and will deliver further added-value services to a growing customer base.
“A new management team will complement the skills and long-term experience of the Option Technologies employees and we will be investing in the Haslingden facility to further improve its quick-turn manufacturing capability.”
Stephen Gregson, corporate finance director at Moore and Smalley, which advised on the deal, said: “Not only does this acquisition significantly improve Ventec’s manufacturing capabilities by combining the firms’ respective expertise in PCB components; it also secures jobs and investment at Option Technologies’ site in Lancashire, which is great news for the local area.”