Fairgrieve Compression Moulding has a new owner who believes his investment – combined with more than 100 years’ ‘industry-leading experience, knowledge and expertise’ – can drive the business to new successes.
Daniel Beaumont, an ACA qualified accountant private investor, feels the company can expand its customer base with the right investment and focus over the next 12 months.
He said: “I’m delighted to have bought a business which is in steeped in history and expertise, and crucially has a strong market position and an excellent customer base which, with the right investment and focus, can be built upon.
“Over the past 18 months I have been carefully looking to identify onshore UK manufacturing businesses which operate in niche markets and have unique skills and expertise to invest in.
“This business has all the qualities I was looking for - real industry leading knowledge and expertise in what is a specialist, but potentially large scale market, both at home and abroad.
“I am confident that we can build on the excellent reputation and customer base established over the past 108 years to grow this business and ensure its future becomes a success story to mirror its superb history.”
Mr Beaumont was the sixth generation of his family to run the successful Lancashire-based Beaumont Textiles, taking over the reins from his father Bill – famous for captaining England and the British Lions rugby union teams, and now Chairman of World Rugby.
He ran the business for eight years before eventually leading it through sale.
Having targeted specialist and niche UK onshore manufacturing businesses to invest in last year, he also bought Hull-based specialist press tool manufacturer Paragon Toolmaking.
“Fairgrieve is the only compression moulding company in the North East - and continues to offer plastic moulding innovations.”
“We are famously known as the first UK company to compression mould Bakelite plastics - more than 100 years ago.”