A plastics manufacturer in Gloucestershire has been acquired by a global machinery group.
Acoustic Polymers, which is based in the Forest of Dean, specialises in producing materials to service the subsea sonar and medical ultrasound industries.
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The business has now been bought by rubber and cork product manufacturer Tiflex for an undisclosed sum. Cornwall-based Tiflex is a subsidiary of the James Walker Group, which employs around 2,000 people and operates throughout 30 countries.
As part of the deal, Acoustic Polymers will continue to be run as an independent business from its site at Churcham, near Gloucester.
Managing director Malcolm Norris said: “We are delighted to be joining Tiflex, an organisation that shares our vision and approach to building lasting relationships with our clients. Their specialist manufacturing expertise will be key to delivering the next phase of our growth and I greatly look forward to working with the team in the coming years.”
South West law firm Thrings advised Acoustic Polymers on the deal.
John Davies, head of corporate at Thrings, said: “It has been great to support the Acoustic Polymers team throughout their acquisition by Tiflex. This deal will provide them with an excellent opportunity to continue expanding their client base and improving their products, and we wish them the very best for the future.”
Corporate finance and tax advice was provided by Bishop Fleming LLP.
