Commercial vehicle, haulage and property business Anderson Group has bought a vehicle body-builder in England for an undisclosed sum.
Alloy Bodies employs 125 people in Manchester, producing more than 2,000 commercial vehicle body units a year and with an annual turnover of about £12 million.
Irvine Anderson, chairman of Newhouse-based Anderson, said the acquisition was a “perfect fit” given the group’s existing work with commercial vehicle franchises and haulage companies.
“We have experienced considerable expansion over the last few years through organic growth and acquisition and I would expect, if a deal was right, we will be acquiring further suitable businesses in the future,” he added.
The deal was led by Anderson’s newly-appointed chief executive Tim Ward whose remit includes looking for potential takeover targets. It was supported by HSBC who also provided a full refinancing of the group.
Kenny White, the bank’s corporate relationship director in Scotland, described the acquisition as a “strategic purchase which enhances and expands the services the group already provides and will give it greater opportunities for growth and investment”.
Anderson, established in the 1930s, is managed by the third generation of the Anderson family.
It has an annual turnover of around £240m and employs more than 560 people in the UK. As well as commercial vehicle operations, the group has interests in haulage and property.