Yorkshire Automotive Firm Makes Strategic Acquisition
Yorkshire automotive products supplier Bremsen Technik has acquired Remanufactured Systems Ltd (RSL), taken on new contracts and expanded its global presence following a seven-figure funding package from HSBC UK.
Bremsen Technik, based in Catterick Garrison, will add RSL’s 12 members of staff to its existing 89 employees following the acquisition. The deal means Bremsen Technik increases its market presence and services by adding RSL’s remanufacturing capabilities for commercial vehicles to its business.
The business has doubled in size and tripled its headcount in the last three years. Bremsen Technik’s turnover is expected to grow to £30 million by the end of 2019 from £25 million in 2018.
The backing from HSBC UK has also allowed Bremsen Technik to streamline its global banking operations, with the bank now solely managing all of firm’s financial accounts for the United States, Germany, China and Hong Kong. Bremsen Technik was also aided by financial consultants Solutions Northern.
Robin Anderson, Managing Director, Bremsen Technik Holdings, said:
“Adding RSL’s capabilities to our existing services helps us increase our market share so we’re delighted to complete this acquisition with the backing of HSBC UK. We work on a global scale and required a bank that reflected our international reach and would enable us to unlock extra capital to keep the business on its forward trajectory.”
Stuart McLaren, Relationship Director, HSBC UK, said: “Bremsen Technik has grown exponentially in recent years and we are delighted to help the business maintain momentum with our financial support. The acquisition of RSL further strengthens the business’s presence in what is a competitive marketplace. Robin and his team have high hopes for the future and we’re excited to see where this acquisition takes them.”
Bremsen Technik was advised by Stuart McLaren, Relationship Director, at HSBC UK. The company is one of the leading European suppliers of automotive products including brake friction and related components and has distribution centres in Europe and Asia.
Yorkshire Automotive Firm Makes Strategic Acquisition, 10th September 2019, 18:16 PM