Ensor Holdings has announced its acquisition of Technocover, the Wales-based manufacturer, supplier and installer of security products.
Technocover's products are used for the protection of critical national infrastructure assets operated by UK and European utility companies within the water, energy, communication and transportation sectors.
Ensor said it believes Technocover’s services to government-driven national security initiatives demonstrate resistance to recessionary pressures.
Ensor has pledged to inject cash of £1 million into Technocover, sourced from a combination of the company's cash reserves and bank debt, to complete a reconstruction of the business.
Ensor has purchased 90 per cent of the issued share capital of Technocover and has agreed to purchase the remaining 10 per cent, owned by two of its current directors, for £1 million after 31 August 2015, subject to Technocover achieving an agreed financial target.
Machester-based Ensor Group comprises several companies whose activities include the manufacture, supply and distribution of building materials, tools and rubber buffings, the distribution of electric motors and access control automation equipment, distribution of packaging and waste recycling.
