Sheffield precision machining company X-Cel Superturn has bought a newly-completed unit on the Advanced Manufacturing Park in Rotherham for £2.75m - tripling the size of its operations.
The firm is set to move to bigger premises just three years after it moved to the park.
It is on Harworth Estate’s ‘R-evolution@The AMP’, a seven-acre development comprising five units begun in April.
Andrew Taylor, X-Cel Superturn managing director, said: “Our rapid growth has meant we have quickly outgrown our premises but we are delighted to be able to stay on the Advanced Manufacturing Park.
“Being located in a prestigious building on the AMP raises the profile of our company, it impresses our customers and makes it easier to recruit and retain skilled staff.”
A company it bought six months ago in Leeds - Colson X-Cel - has reported a 100 per cent increase in profits and a 50 per cent rise in turnover. Total workforce has risen from 140 to 180 in the last year.
X-Cel’s headquarters are in Brightside, Sheffield, and it has a subsidiary, X-Cel Precision, in Batley.
Turnover should be £30m by accounting year end in April and £36m the following year, Mr Taylor added.
Excel’s latest move means three of the five R-evolution units have been bought, the two others went to high-performance alloy firm Maher and Nikken Kosakusho Europe, a supplier of precision engineering products.
The X-Cel Superturn unit was owned by Rotherham Council, after it bought three from Harworth in March for £4.3 million.
The two others are now being marketed.
A five-acre ‘R-evolution 2’ on the 68 acres that remain to be developed at Waverley is planned.