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As one of the leading UK suppliers of mixers to the construction and quarrying industry, McPhee Mixers designs, manufactures and supplies its mixers from its headquarters in Blantyre, Glasgow.
As well as designing and manufacturing the mixers, the company also services and repairs them from a specialist site in Chesterfield, Derbyshire.
Elaghmore will provide financial backing to support the growth plans of McPhee Mixers which include expanding the existing sites to help deliver a growing order book, new product development, the addition of sales and marketing capability and geographic expansion to capitalise on the Company's intellectual property.
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Under the deal the company, which employs 70 people, will continue to operate autonomously but will become part of Elaghmore's Total Vehicle Solutions ("TVS") Group, which includes other Elaghmore acquisitions, SB Components and Priden Engineering.
The TVS Group under the ownership of Elaghmore has annualised revenues of £50 million and operates across four sites in the UK.
Commenting on the transaction, Brinsley McFarlane, Managing Director, McPhee Mixers, said: "McPhee Mixers has a long and enviable record of success within the engineering industry, and we have ambitious plans for the future. Working with Elaghmore will help us deliver these, which is demonstrated by their track record in backing companies like SB Components. It is an exciting day for our skilled and dedicated workforce as well as our customers as we look to build on our success so far as part of the TVS Group."
Andy Ducker, Founding Partner at Elaghmore, said: "McPhee Mixers is a strong, profitable company with a growing order book, a track record of innovation and long-term relationships with some of the biggest names in the UK construction industry. It is a valuable addition to our Total Vehicle Solutions Group and expands its capability to offer even more products to its industrial client base from a growing number of sites across the UK."
(LM/MH)
