Stockport manufacturer makes North American acquisition

Stockport and South Manchester-based manufacturer, Renold, has announced the acquisition of US and Canada-based MAC Chain.

The acquisition boosts the presence of the supplier of industrial chains and related power transmission products in MAC Chain’s core markets in the Northwest of the USA, and the Canadian provinces of British Columbia and Québec, where it manufacturers and distributes high quality conveyor chain and ancilliary products. The acquisition gives Renold greater access to the forestry sector, which has been identified by the business as a potential new market to expand into.

The $31.4 million deal is the latest in a string of acquisitions for Renold, and was funded using the firm’s existing borrowing facilities. MAC Chain achieved revenue of $28.5 million in the year to June 2024.

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

“We are delighted that MAC Chain is to join the Renold Group and that not only are we buying an excellent business, but also retaining the services of a very talented group of managers and employees. The acquisition of MAC Chain considerably expands and strengthens our North American Conveyor chain offering.

“MAC Chain is our third CVC acquisition in a little over 2 years and builds our momentum as we execute our deal pipeline. Reduced leverage has been driven by strong operational performance over recent periods, leading to a strong balance sheet and a conservative level of debt, allowing us to accelerate the growth of the business through complementary bolt-on deals.”