Nottingham-based laser and waterjet cutting specialist Lasershape CR4 is diversifying into the aerospace industry following its acquisition of a West Midlands engineering company.
In a move which will create new jobs and bring a different dimension to the company’s business, Lasershape CR4 has bought Jet Blades Engineering Limited in Coventry.
The deal – for an undisclosed sum – was led by Gavin White, corporate law partner with solicitors Flint Bishop in Nottingham.
Jet Blades, which has several blue chip customers, manufactures precision components for the aerospace industry.
A well established family firm currently employing 25 people, it will continue to operate under its existing name from its current premises in Coventry.
Lasershape CR4 – the holding company comprising Lasershape Ltd in Nottingham and CR4 Ltd near Lincoln – employs 75 people, 50 of whom are based at its Beeston site. Both sites operate 24 hours a day, seven days a week.
Established more than 18 years ago, the business specialises in laser cutting and waterjet cutting and has a nationwide customer base.
Dave Hateley – co-owner of Lasershape CR4 with fellow shareholders Tim Leam, Danny Fantom and Mike Ward – said the acquisition of Jet Blades presented the business with exciting new opportunities for expansion.
He said: “Our core laser cutting businesses serve a wide range of customers in a diverse range of industries, but we have not major involvement in the aerospace sector until now.”
“This acquisition gives us a new dimension and our intention going forward is to grow the Jet Blades business.
“With this in mind we have appointed Darren Johnson – a well known figure in the aerospace sector – as operations director of Jet Blades and we will be taking on more technical and shop floor personnel in the coming months.”
“We also plan to grow the Lasershape CR4 business via further acquisitions.”
Gavin White, who has advised the Lasershape CR4 team in the past, added: “This acquisition is an important part of Lasershape CR4’s growth strategy and will enable it to enter a new market in which it has not previously operated.
“I am pleased to have been involved in leading a deal which not only takes the company’s growth plans a stage further but will also help create more high-tech manufacturing jobs in the Midlands.”
Corporate finance advice to the Lasershape CR4 team was provided by Andy Worrall of accountants Brooks Mayfield in Nottingham and accountancy advice to the seller by Langard Lifford Hall.