Hi °C | Lo °C A Co Londonderry metal firm has acquired an English company with the help of Invest NI.
Sperrin Metal, which is based in Draperstown and manufactures storage products, hopes the acquisition of Helmsman will increase its export potential and overall turnover.
Sperrin products - including shelving, lockers, racking and flooring - are sold to schools, governments and companies throughout Europe.
Invest NI assisted Sperrin Metal with employing an interim manager to help the company expand.
The manager spotted the opportunity to acquire Helmsman, an established locker manufacturer.
The purchase gives Sperrin Metal access to the storage equipment market right across the UK.
Pat Gormley, chairman of Sperrin Metal, said: "The acquisition of Helmsman represents significant progress for our growth strategy.
"We identified opportunities in the UK locker market, and by purchasing Helmsman, a recognised brand leader, we are now in a position to take advantage of these opportunities and increase our market share."
"By developing our business in the UK we can look to further establish our distribution networks in Europe in order to boost our exports there," he said.
Victor Jordan, Invest NI's director of business improvement services, said: " Sperrin Metal has increased its competitiveness by focusing on growing its business through a takeover outside Northern Ireland.
"Other advantages of the acquisition include economies of scale and a stronger portfolio of innovative products."
The purchase has enabled Sperrin Metal to develop new products including leisure lockers, washroom seating and cubicles.
The company employs around 200 staff.
