A County Durham plastics company has been sold to a long-time collaborator.
Lamplas, which was founded in 1971 and designs and produces glass fibre composites for a wide range of products, has been sold to composite mouldings manufacturer and supplier MPM Group, which is based in Bramley, Leeds.
MPM said the acquisition would expand the family-owned group’s product portfolio, enhance its manufacturing capability and technical expertise, and broaden its market reach. The combined workforces will have over 90 skilled team members who the company said would be focused on a long-term growth strategy.
Operations at Lamplas’ Consett site will continue as normal, with the existing team and facility remaining in place. The companies will work together to share best practices and collaborate on projects.
Ben Wilson, managing director of MPM Group, said: “We’ve long admired the work of Lamplas and worked together on various projects for over 20 years. Their product quality and desire for ‘better’ have helped them build the business they have.
“This acquisition brings two long-established family businesses together, combining our strengths, qualities and values to bring even more value to our customers’ supply chains. We are excited about the opportunities ahead, working with a great team, and welcome Lamplas into the MPM family.”
Keith Siddle, managing director of Lamplas, added: “Lamplas has always been proud of its family roots, quality focus and skilled workforce. We are delighted to be joining the MPM Group, which ensures our legacy continues with the backing of a partner that understands and shares our values.”
KBS Corporate and Higgs LLP advised on the deal.
