International Finance

Captec Group’s latest acquisition fuels IPO momentum

Captec Group, acquisition, Cove Industrial Enterprises, IPO strategy, Farnborough
Using Cove's expertise in the industry, Captec will enable a more integrated offering to customers who are looking for end-to-end electro-mechanical and computing platform solutions

The Captec Group recently announced the share capital acquisition of Cove Industrial Enterprises Ltd, for an undisclosed fee.

Both companies share an increasingly common customer base, particularly in the aerospace and defence sectors. With cross-pollination opportunities across both customer and supply bases, the acquisition will create a more simplified and streamlined single supplier, generate increased supply chain business and enhance the innovation and quality of aerospace and defence computing solutions.

The acquisition includes the manufacturing factory in Farnborough, safeguarding Cove’s skilled workforce while providing further investment opportunities for growth inside the Captec Group.

This forms an important part of Captec’s strategy to grow through acquisitions in the lead up to IPO floatation. Captec will align Cove with its strategic growth plan, investing as appropriate and bringing its management and manufacturing processes in line with that of a medium-sized organisation.

Max Toti, Founder and CEO, Captec Group, said: “We are delighted to add Cove to our expanding group. We have had a long-standing relationship with Cove as a strategic supplier and look forward to developing and leveraging its capabilities and potential even further in line with our IPO strategy to expand through both organic and acquisitive growth.”

Gordon Day, Founder and CEO, Cove Industrial Enterprises, said: “We have been helping businesses bring products to life for over 50 years. Having worked with Captec for almost a decade we know that the Captec acquisition provides the security to our staff, customers and suppliers that not only will we keep going, but we will continue to grow as a one-stop-shop for all design, build, electro-mechanical assembly, paint and silkscreen requirements.”

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