Bristol-based Leviathan Engineering has announced the acquisition of another South West sub-contract engineering business, Plymouth’s GMD Eurotool Ltd, for an undisclosed sum.
GMD, based in the Langage Industrial Estate in Plympton, provides precision engineered components and designs solutions for projects within the marine, defence, food processing, energy and pharmaceutical sectors.
The business lists defence and engineering giant Babcock and The Royal National Lifeboat Institution among its clients.
Leviathan said the deal was intended to be the first in a series of transactions the firm was anticipating to make, as it aims to forge a wider, integrated engineering group headquartered in Bristol.
The company said it had an “ambitious plan” to further expand GMD’s services to a growing customer base, and to facilitate management transition. As part of the agreement the Sansom family, who founded GMD more than 25 years ago, will remain within the business.
Leviathan’s chief executive Glenn Karlsson and and the firm’s chief financial officer David Sneddon are supported by experienced engineering and manufacturing experts Barry Debenham and Kevin Parkin.
The company said it’s expansion plans focused on “premium value and growth sectors” where various engineering services can be shared to address larger, "more technical" projects.
Leviathan was advised on the GMD deal by law firm Harrison Clark Rickerbys (HCR). Mr Karlsson thanked HCR’s team led by Rachael Reeves, who he said had provided “invaluable” help through a range of “legal and Covid related challenges.”
Ms Reeves said: “Leviathan have been a client for some time, and I’m delighted to be able to support them at the start of an ambitious and well-planned journey towards a new business model for the company.”
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