Bristol-based engineering and manufacturing business Avon Group has hit the acquisition trail again to accelerate its growth – this time snapping up a specialist automotive component manufacturer.
The £80m-turnover group has bought Nottinghamshire-based Interflex, which manufactures seals and acoustic protection products for the automotive industry, out of administration.
Interflex had struggled to recover from the impact of the pandemic and the subsequent volatility of its sector.
It was rescued by Avon Group after entering administration on 28 February in a deal through which it acquired the trade, assets and staff of the £8m turnover business.
Avon Group, headquartered on South Liberty Lane, is made up of 10 individual companies based around the UK and in the US employing more than 650 people.
Many of these have been added over the past few years, including Hull-based AntiVibe, which makes power transmission couplings and precision-made technical rubber and plastic components used in cars and heavy plant, and Telford-based AcoustaProducts, a leading manufacturer of acoustic foam and rubber products for the automotive, medical, air conditioning and packaging sectors.
Avon Group sales director Steve Thomas said: “Our business has huge synergies with Interflex.
“The management team and staff at Interflex will bring additional engineering skills and capability to our group that will propel our automotive business forward at an even faster pace.”
He said the group was already making “significant inroads with clever products for electric vehicles” and was “eyeing-up” opportunities presented by the £4bn electric vehicle battery gigafactory being built near Bridgwater.
“This acquisition is not only good news for Interflex but good news for our group as a whole, as we continue to expand,” he added.
Interflex will continue to operate from its 34,000 sq ft premises near Nottingham and it is anticipated that most of the company’s staff will be retained under the new ownership.
Avon Group, which was established in 1979 as Avon Gasket Manufacturing, initially to make a range of gaskets, seals, joints and washers, is now the largest manufacturer of aerosol valve and stem gasket seals in Europe and one of the largest in the world.
It also specialises in the specification, design and manufacture of a wide array of rubber, plastic moulded and foam components used for specialist sealing, ducting, insulation and protection for industry. Financial details of the Interflex acquisition have not been disclosed.
Pictured: Interflex director Jim Griffin, left, with Avon Group sales director Steve Thomas following completion of the acquisition