US group acquires Kentish gear-maker
The US-based Precision Technology Group has acquired the Kent-based gear manufacturer, SP Gears. The Orpington company, established in 1916, supplies global customers in the valve, rail, marine and automotive industries, and has nuclear accreditation, allowing it to serve both new build and refurbishment activities in the nuclear sector.
PT Group’s president Chris Oswald says SP Gears’ products and services “will complement the specialist and innovative skills available from our other Group companies, enabling the sharing of engineering, design, manufacturing, supply and service to enhance our customer offering across our core markets in marine and automation.
“SP Gears has significant growth potential in several rapidly expanding markets,” he adds. “All existing staff are staying on with the business, including [managing director] Greg Jenkins, who will be a leading figure in our growth plans over the next few years. The PT Group is achieving growth of around 40% a year and we see SP Gears as being a key contributor to the future.”
“We will be investing in SP Gears to increase both its capacity and its sales, and this work has already started,” Oswald reports. This includes adding five new members of staff to the existing 15-strong workforce.
PT Group’s other companies include Precision Technology USA, which manufactures electromechanical actuators, and Hypac in Australia and Seaway Powell Marine in the UK, which both produce hydraulic systems for marine applications.
