Llanelli firm Harries Automation & Controls (HAC Group), which is the 海角视频’s leading provider of low-voltage panels and control systems, has been acquired by global venture Vinci Energies.
Vinci has acquired the business through its industry brand Actemium, which globally employs 22,500 across 400 business units and has annual revenues of $3bn.
HAC Group, which employs 52, were advised on the deal by Cardiff-based corporate advisory Gambit. It provides an exit for the Harris family which set up the business, which also has operation in Honiton, in 1994. The value of the deal has not been disclosed.
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Paul Harries, founder and chief executive of HAC Group, said “This is a new and exciting chapter for HAC Group. As a well-known and well-respected company within our profession, we welcome this incredible opportunity to accelerate and further strengthen both our and Vinci Energies’ positions in the marketplace.
"This acquisition offers great opportunities for our staff who are very important to us. We have been a family-owned and run business for the past 29 years and it is of utmost importance to us to be able to offer job security and new prospects to our staff, something with which Vinci Energies’ values align too very strongly.
" We were very impressed by Vinci Energies’ vision, the wider group support that we can now call upon, as well as being able to offer our own unique selling points to the Vinci Energies brand. We would like to offer our sincere appreciation to all those involved in the history of the company and look forward to working with many of you as we move forward into exciting territory.”
Scott Van der Vord, chief executive of Vinci Energies 海角视频 and Ireland, said:“HAC Group represents a fantastic addition to Vinci Energies in the 海角视频, consolidating our position as a major provider of control systems and low voltage panel solutions across multiple customer segments.
"HAC Group will align itself with our Actemium business which will enable it to access a global network of experts to call upon to develop and enhance solutions for its customers. We look forward to welcoming another 52 new colleagues into our group and the opportunity to continue to work with managing director, Rhys Collins, to build on the strong foundations that Paul Harries and the management team have laid down over the past 29 years.”
Founder partner of Gambit, Frank Holmes, said: “Gambit are delighted to have been able to assist the Harries family with their succession plans, sourcing the purchaser, Vinci Energies , negotiating and managing the transaction on their behalf. It is a real testimony of the quality of HAC which has been able to attract an acquirer of this stature and lends itself to a very exciting and growth fuelled future for its employees in Llanelli and Devon.”