At the start of 2020 Nimbus has acquired the Centrifugal Castings Division of Doncaster’s Group. The division comprises of Teeside based Paralloy and South Yorkshire based FVC both providing specialist engineered products that service domestic and international markets in the petrochemicals, and aerospace industries respectively.
We backed the senior management team, led by Chief Executive Robert McGowan, to acquire the business and will use its pan European footprint to support Paralloy and FVC’s growth and export plans. Investment Director, David Keenan, who led the deal commented, “Paralloy represents a great example of UK manufacturing despite these uncertain economic times. The combination of a strong management team, market leading products and stated growth ambition provides the perfect setting for us to invest.”
Paralloy Chief Executive Robert McGowan: “This is good news for our business. We are delighted to be working with Nimbus, we believe their background and expertise complements our strong management team and we have a partner that understands us, our business and is excited about our future. We continue to focus our efforts on building on the Great British Brands of Paralloy and Firth Vickers Centrispinning (FVC) with renewed vigor, investment and a commitment to deliver best in class products and services to our customers worldwide. This transaction will enable us to uniquely position Paralloy and FVC for more growth, expanding our portfolio, capabilities and market reach”.