Member Article

Yorkshire belt manufacturer buys Nordic outfit

Yorkshire-based belting producer, Fenner PLC, has acquired Nordic hosing manufacturer Mandals.

Fenner has exchanged contracts to purchase 100% of the share capital of the privately owned firm, with bases in Norway and Sweden.

Mandals makes flat hoses using woven fabric technology, and is considered a market leader in the industry.

The acquisition builds on the expertise of Fenner’s Advanced Engineered Products Division (AEP), which supplies to the agricultural, infrastructure, potable water, oil and gas markets.

Assets of Mandals have been valued at £9.9m, and the transaction is expected to be completed in early September of this year.

Nick Hobson, CEO of Fenner PLC, commented: “Mandals is a leader in an area of reinforced polymer technology which complements our existing operations, particularly James Dawson. In addition, the end markets served by Mandals enjoy attractive, long term growth characteristics which will support Fenner’s strategic growth objectives.”

This was posted in Bdaily's Members' News section by Tom Keighley .