ETG DELIVERS NEW MANUFACTURING TECHNOLOGY BLUEPRINT WITH HK HOLDINGS ACQUISITION
Engineering Technology Group (ETG) has acquired HK Holdings and all of its subsidiaries from the Pexion Group to transform the way manufacturers access the latest technologies.
ETG is now able to offer a single-source solution for CNC machining, wire EDM machines, 3D printing and additive manufacturing.
“3D printing, in particular, has gone through the ‘proving’ stage and is now seen as a viable way of manufacturing for sub-contractors and OEMs. As a result, the surge in sales in the marketplace is huge and expected to hit $ 14bn globally by the end of 2020,” explained Martin Doyle, Managing Director of ETG.
“We had two choices. Look to take on existing principals and agree to new distribution agreements or purchase a company that is already established in the sector and can boast immediate access to world class brands and a whole host of technical expertise with their current staff.”
He continued: “Pexion Group is a key account for Engineering Technology Group ETG, with multiple CNC machines installed across its group of companies. We knew it was reviewing how to develop HK Holdings so decided we would approach it about the possibility of integrating it into our business.
“It’s a perfect fit. We have a nationwide network of customers for CNC machining and automation and a lot of those have a need for EDM machines and additive manufacturing…and this works the other way too.”
Darren Turner, Co-owner of the Pexion Group, added his support: “The majority of our businesses are focused on manufacturing and this deal provides HK Holdings with a new parent that can really unlock its potential and technical expertise.
“It’s a good acquisition for both parties and gives us the opportunity to focus on our core manufacturing activities, whilst the additional funding generated will help us deliver our ambitious growth plans.”
