A manufacturer and wholesaler of welding equipment has expanded its European footprint by carrying out a double acquisition in Spain.
Bewdley-based Parweld has bought Reinsol Soldaduras Y Mantenimiento, which distributes a wide range of machines, tools, accessories and consumables, and Parweld Torch Technology SL which serves as the distributor of Parweld's products throughout Spain.
The acquisitions allow the Valencia-based companies' founder to retire following a handover period. Parweld specialises in arc and gas welding torches, welding machines, consumables and personal protection equipment.
It sells products and carries out servicing to wholesalers and distributors worldwide from its HQ and distribution facility in the Worcestershire town and also a manufacturing facility in China.
It sells through a network of distributors in the UK and Europe as well as Africa, Asia Pacific and North America. The acquisitions take Parweld group turnover to more than £20 million.
Managing director Graham Perry said: "We are pleased to have completed the acquisition of two businesses that are highly regarded in the Spanish market for their range of welding supplies, technical know-how and level of service.
"Under Parweld's ownership, we intend to invest to broaden their product ranges and to expand further into adjacent geographies."
It was advised on the undisclosed deal by Birmingham practice Cattaneo Corporate Finance.
Partner Martyn Pilley said: "Having been advisers to Parweld since its management buyout in 2019, it is rewarding to have completed this important transaction which strengthens Parweld's business in the region while providing a platform for continued growth in European markets."
