Orbis Press Ahead After Sale Of Fasteners Company
BakFin Limited and its trading subsidiary Baker & Finnemore Limited have been bought by German company Titgemeyer Beteiligungsgesellschaft mbH, an international manufacturer of fastening and transport technology products.
Baker & Finnemore, which is based in the Jewellery Quarter in Birmingham, is one of the city’s oldest businesses. It manufactures the Starlock branded range of push on fasteners and other bespoke small pressings, used in a wide range of manufacturing and assembly applications. Around half of its turnover is exported through a network of distributors.
Titgemeyer, another long established business, operates a number of manufacturing sites throughout Europe and the Far East and sells product into a wide range of manufacturing industries including marine, aerospace and automotive. The company already sources Starlock product, with the acquisition of Baker & Finnemore representing a strategic opportunity to enhance its market position in the European fasteners market.
The Baker & Finnemore management team, led by principal shareholder Derek Sharp will retire from the business after a handover period. They acquired the company through a management buy-out in 2006.
The shareholders are very happy with the outcome. We have known Titgemeyer for many years and are confident that their ownership will safeguard the business for many years to come.
Derek Sharp, Managing Director
It was a pleasure working with the management team again. There are excellent synergy benefits to be gained by combining the two businesses. As a part of the Titgemeyer group, Baker & Finnemore is well placed to exploit the significant opportunities available through their international network.
We are delighted to have accompanied this talented management team every step of the way, from their initial buy out through to exit. Everyone has benefited from this continuity and understanding and we are confident that the business will continue to flourish under new ownership.