Bridgend-based precision pressure vessel manufacturer Vessco Engineering has been acquired by German-owned LTi Metaltech in a £2.6m deal.
The deal sees owner of Veesco Engineering, Julian Vance-Daniels, remaining in a senior development role.
Founded in 2006, Vessco is a tier two supplier to the turbine hall at the Hinkley Point C new nuclear power station project, supplying large pressure vessels for GE Power Systems.
The company, which employs 40 people on the Bridgend Industrial Estate, also operates in the oil and gas, power generation and water supply sectors.
LTi Metaltech, based at Oxfordshire’s business and science park, Milton Park, is a major supplier to Siemens in the manufacture of pressure vessel components for its market leading MRI Scanners.
Under its UK managing director, Edgar Rayner, the £23m business has expanded its scope to include the hydrogen technology and aerospace sectors.
The acquisition will enable LTi to accelerate its expansion plans as it diversifies its portfolio whilst underpinning existing capabilities in medical technology.
Mr Rayner said: “Vessco Engineering has built up a great reputation and we’ve had it on our radar for some time. We are obviously delighted to be able to bring it into the LTi family where our combined resources and capabilities will help to broaden and strengthen our offering in a range of important industry sectors.”
Vessco’s founder Mr Vance-Daniels said: “To be incorporated into such a prestigious engineering business as LTi Metaltech is a huge compliment to the hard work, enterprise and innovation of our management team and workforce. LTi Metaltech is a business at the top of its game and the combination of our two operations is a terrific opportunity to extend our services and reach at a time when British innovation and engineering excellence is undergoing a real boon. I am delighted to be part of LTi’s future.”
