A vehicle body building company in the Greater Manchester area has been bought by the Anderson Group for an undisclosed sum.
Alloy Bodies Ltd, which employs 125 staff, Is one of the UK’s largest body unit producers. Last years accounts show the business generated £12.9m in revenues in the 2016 year to October and pre-tax profits of £2.43m.
Irvine Anderson, chairman of The Anderson Group, commented: “Alloy Bodies is a major UK manufacturer in the commercial vehicle sector and I am delighted that we have added this valuable and exciting company to our group.
Following the deal, Alloy Bodies will operate under the Anderson Group umbrella as a standalone business with a similar structure as before with the addition of Anderson Group chief executive Tim Ward taking overall responsibility.
The Alloy Bodies deal, which was supported by HSBC, was brought to The Anderson Group by its newly appointed chief executive, Tim Ward, who will now work to find other potential acquisition targets.
Lanarkshire-based Anderson, is a family-owned group which started out as a haulage business and has since expanded to include commercial vehicle sales and rental and property rental. Their most recent accounts record revenues of £241.9m.