The former boss of a Derby firm which supplies parts to high-tech sectors such as Formula One has secured a deal to buy the company’s assets.
Graham Mulholland, who led EPM Technology for 21 years, has completed a deal to buy the assets of its successor EPM Composites, which makes carbon-fibre components.
He has now launched a new company, Mulholland Group, which will be based at EPM’s former site in Belmore Way, off Raynesway.
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Mr Mulholland founded EPM Technology in 1996 and was its chief executive until 2017 when it was bought out by a company called A2e. It then became EPM Composites.
During the past two years, Mr Mulholland has been involved as a consultant in various projects but last week a potential investor Andrzej Kurowski approached him about buying EPM.
Mr Mulholland said: “I only heard about this last Tuesday and the deal was done three days later. Most people buy Christmas presents on Black Friday – we bought a company!
“Despite EPM’s difficulties, the company still had an order book and we will fulfil it because we have retained the skill set among the workforce.
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“Of course, we will also look to take on new orders – indeed, we have already had some.”
This year, EPM has been supplying parts to four Formula One teams and makers of two hypercars. Mr Mulholland said that Mulholland Group will continue to work in those fields, as well as looking to extend its reach further.
He said: “There is no point looking to the past and what might have been.
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“I am looking to the future – I have unfinished business in the composites sector – putting my name on the company shows clear intent and our determination to achieve our goals.
“I think it is important for staff and customers to see that conviction and we are aware with some that we need to build trust and confidence.
“Our plan is to do it once and do it well. That will be the springboard for us to right this wrong and once again be successful.”