Sheffield forgings firm buys rival division in £50m turnover plan
A Sheffield forgings firm has bought a division from a rival under plans to reach £50m-a-year sales.
Independent Forgings & Alloys has acquired Doncasters Precision Forgings from Doncasters Group.
The deal will increase capacity threefold, to 680,000 sq ft, and expand IFA’s capabilities to create a one-stop-shop as the only Western forge with open-die, closed-die, ring-rolling, hammer forging and rotary forging on a single site.
IFA is based on Livesey Street, Owlerton. The company was acquired by the current management team from Doncasters Group in 2001.
Last March it recieved £8.5m investment from the Business Growth Fund.
Sales are up from £17.8m to £23.2m this year.