Private equity firm Elaghmore buys Priden Engineering
Private equity firm Elaghmore Partners has bought Wisbech-based Priden Engineering for an undisclosed sum.
Priden, which provides bulk blowing equipment, pneumatic systems and other commercial vehicle modification services, will remain an independent company and its management will stay with the business.
The firm will now work closely with commercial vehicle fabrication and design specialist SB Components, also based in Wisbech, which Elaghmore acquired in December 2016.
The combined Priden and SB Components business will employ 250 people and have annual sales of more than £40m.
Kevin Walker (pictured), director at Priden, which has four factories and 100 employees, said: “With Elaghmore, Priden has a strong financial backer with a track record of growing businesses, who can help us build on our successful work and take us to the next level of our development.”
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