A robotics and engineering company is growing so fast it has opened its fourth site after buying a vast former printworks in Plymouth.
Oakmount Control Systems has acquired the L-shaped unit last used by printing firm Latimer Trent on the Estover Industrial Estate, for an undisclosed sum, in a deal brokered by commercial property experts at JLL.
The industrial site has been vacant since Latimer Trend closed in October 2019 with the loss of 80 jobs.
The print firm, which had been trading for 130 years, fell victim to a toxic cocktail of declining paperback book sales, currency fluctuations, rising staff and raw material costs - and “the effects of Brexit”.
Oakmount Control Systems, on the other hand, has been expanding, and will now have three bases in the Ocean City.
The company already operates out of Sisna Park and Plymbridge House and has a unit in Yeovil too.
In addition to making control systems, it is also involved in precision and electrical engineering, automation and robotics.
The company said the acquisition of the 36,883sq ft former printworks will allow further expansion.
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Phil Partridge, managing director and founder of Oakmount Control Systems, said: "Since the company was created in 2002, we have continued to grow.
“Our acquisition of the Estover Road property is another step forward for the business. It will allow further expansion and support increased demand for our services."
The 1.7 acre site housed Latimer Trend until that firm went into administration in 2019. Despite having a turnover of £10million, and having continued to invest in capital, Latimer Trend had been stung by difficulties in accessing finance and the continued decline in paperback book production, its 2018 accounts revealed.
That year it made an after-tax profit of just £51,000 – down from £628,000 in 2017.
It complained of currency exchange fluctuations, global demand for raw materials and the rising costs of labour as factors impacting on the firm, and necessitating the need for efficiency savings. The firm then blamed further declines in trade and Brexit for damaging the business.
Tim Western, lead director at JLL in Exeter, said: "It was of course very sad to see Latimer Trend cease trading late last year, but this has provided an opportunity for Oakmount Control Systems to take forward their growth plans. It is positive news for the Plymouth business community in these uncertain times."
Oakmount Control Systems Ltd has been an innovative designer, manufacturer and systems integrator for the past 18 years.
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It works with many Blue Chip Companies spanning industries including food processing, beverages, pharmaceutical, aerospace, automotive, railway, machine tools, home automation, mining and general manufacturing.
The company innovates, designs and builds some of the most complex machines used in today’s manufacturing, integrating artificial intelligence to assist and remove human error in scenarios where it is critical that the product is precise every time, especially in the pharmaceutical industry.
The firm has built machines for testing vehicle brake pads, automatic Inspection, seed placement, food production lines, and robot welding.
Oakmont has its own team of qualified electrical and mechanical design engineers and works with firms such as Siemens and Techman.
The company was created in 2002 by Phil Partridge as a sole trader specialising in the design and manufacture of industrial control systems.
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In August 2003 a limited company was formed and it moved into an 800sq ft business unit.
Continued growth each year resulted in a move to bigger premises at the end of 2005. It then moved to a purpose built 10,500sq ft factory in June 2011 which has since had a mezzanine added to increase the capacity to 14,000sq ft.
A Precision Toolmaking facility was added to enable the business to manufacture its own tooling and condition machinery it manufactured.
A precision toolmaking facility and fabrication department were added shortly after and in April 2019, both of these departments, known as the Precision Engineering Division, were moved to new premises at Plymbridge House.