hi-tech valve and mine safety equipment manufacturer President Engineering Group Ltd is targeting further growth in the global mining sector.
The move follows Sheffield-based PEGL’s acquisition of Derbyshire-based Bretby Gammatech in a deal, backed by Lloyds Bank Commercial Banking’s Sheffield team.
PEGL’s Conflow division makes dust and fire suppression equipment and water control systems used in the mining and quarrying industries.
Meanwhile, Bretby supplies a range of probes and monitoring equipment for analysing the quality of coal and its potential heat content, which is used by mining organisations in more than 20 countries worldwide.
PEGL managing director Mark Henley said: “We are delighted to complete the strategic acquisition of Bretby Gammatech.
“The company pioneered the development of coal monitoring technology almost 20 years ago and now has an unrivalled reputation for the quality and reliability of its products.
“This acquisition complements the activities of our Conflow division and will allow us to pursue new growth opportunities in developed and emerging coal producing countries worldwide.”
Lloyds Bank Commercial Banking’s Adam Barraclough said: “PEGL is a highly ambitious business and has performed strongly since the management buyout two years ago, backed by YFM Equity Partners.
“Its management team have a good track record in opening up new international markets and the acquisition of Bretby Gammatech bolsters their overseas capabilities.
“Mid-sized businesses like PEGL are fundamental to the long term health and prosperity of the UK. We are committed to providing them with the funding and support needed to capitalise on new opportunities.”
David Forrest and John Longstaff of Barber Harrison and Platt Corporate Finance carried out due diligence investigations and legal advice was provided by Sheffield law firms Hill Dickinson and HLW Keeble Hawson.