Australian acquisition for Stockport manufacturer

Stockport and Wythenshawe-based manufacturer of industrial chains, Renold plc, has announced its acquisition of Australian firm, Davidson Chain.

The AU$6 million deal (approximately £3 million) increases Renold’s access to the Australian market and will take advantage of manufacturing synergies between the two businesses. The management team at Melbourne-based Davidson will continue to the lead the business as part of Renold’s Australasian leadership team.

Davidson Chain was established in 1991 and is a family-owned manufacturer and distributor of high-value conveyor chain. The business achieved an annual revenue of AU$4.2 million in the 12 months to June 2023.

Commenting on the deal, Robert Purcell, Group Chief Executive of Renold, said:

“The Davidson acquisition demonstrates further strategic momentum, supplementing organic growth through high quality bolt-on acquisitions which can expand our geographic presence, grow our product offering and strengthen our market position in key end markets.

“We are delighted that Davidson has joined the Renold Group, and believe that not only have we acquired an excellent business, but also retained the services of a very experienced team. The Davidson business is very much aligned with Renold, including an excellent long-established track record of manufacturing and supplying high quality chain products with an entrepreneurial culture that will fit well with our own.

“We welcome the Davidson team to Renold.”