10 years ago
Altec Engineering Secures £6M Investment from Business Growth Fund
Altec Engineering, a UK-based engineering solutions provider, has received a £6m investment from Business Growth Fund
The company plans to use the funds to execute its buy and build strategy and organic growth
The first investment was the acquisition of neighboring business Ronco Engineering, a precision engineering company
Altec also plans to scale-up its business through accelerating its organic growth plans following the expansion and investment into its Durham site last year and the delivery of new value-added services such as specialist coatings and through further strategic acquisitions.
ProblemTechnology
"Altec Engineering aims to enhance its capabilities in delivering engineering solutions by acquiring complementary businesses and expanding its services."
Solution
"The company plans to grow through strategic acquisitions and the addition of new value-added services to its portfolio."