Toolmaking and injection moulding company Goodfish Ltd acquired a complementary business Powell & Harber after securing a £1 million investment from Finance Birmingham. The acquisition significantly expanded Goodfish’s business, enabling the company to work for larger customers such as original equipment manufacturers (OEMs) and more tier 1 automotive suppliers.
Based in Cannock, Goodfish has clients in markets including the USA, Ireland, Portugal, Hungary and Poland as well as the UK. Powell and Harber is a plastic injection-moulding firm based in Worcester that supply quality-assured precision plastic injection parts to industries worldwide. Both companies work for a range of sectors, including automotive, medical, aerospace, defence and leisure sports. The deal also enables them to work more closely, sharing best practice and matching capacity to meet client demands.
Greg McDonald, managing director of Goodfish, commented:
“Finance Birmingham’s support has enabled us to secure the acquisition of Powell & Harber, a first-class precision moulding and tool-making business, at a time when the owners were looking to retire. Together with Powell & Harber, Goodfish will be able to better address the demanding requirements of larger customers whose business we have been targeting for some time. This, in turn, will help accelerate our growth and secure employment in the area.
“We had a great team working with us again on this transaction, with regulars like Keelys and ABN Amro joined by new team member Steve Thornhill of ICF. This helped us structure and complete a multi-faceted acquisition that might otherwise have been more difficult.”