Private equity firm Elaghmore Partners has bought truck-mounted concrete mixer unit designer and manufacturer McPhee Mixers in an undisclosed multi-million-pound deal.
The Blantyre, Glasgow-based company, founded in 1971, also services and repairs mixers at a site in Chesterfield, Derbyshire.
Elaghmore is providing funds to support the growth plans of McPhee, which include expanding existing sites, developing new products, boosting the sales and marketing department, and expanding geographically.
McPhee, which employs 70 people, will continue to operate autonomously but become part of Elaghmore’s Total Vehicle Solutions Group, which includes SB Components and Priden Engineering.
Companies in the group cross-sell products to the combined customer list and share facilities across the UK, as well as share best practice and technical expertise.
Brinsley McFarlane, MD of McPhee Mixers, said: “McPhee Mixers has a long and enviable record of success within the engineering industry, and we have ambitious plans for the future.
“Working with Elaghmore will help us deliver these, which is demonstrated by its track record in backing companies like SB Components.”
