Birmingham-based Lander Automotive has bought the UK plants of Tricorn Group with the support of Shawbrook Bank asset based lending facility.
Established in 1951, Lander Automotive is a leading supplier of assembled products primarily in the automotive Sector, specialising in fluid and air transfer systems, welded structures, interior trim products, and plastic tubular assemblies. The business was acquired by GIL Investments in March 2020, also with the support of Shawbrook Bank.
Lander has bought the UK plants of Tricorn Group, a niche manufacturer of pipe and tubing assemblies supplying worldwide markets. The business makes similar products to Lander Automotive but supplies predominantly to the
Len Palmer, managing director at Lander Automotive, said:
“With similar product portfolios, there is a strong alignment with Landers’ capabilities in tubular fluid and air carrying products, and is the first phase in building a broader strategic customer base whilst combining Lander’s Operational Excellence to these existing and highly respected manufacturing businesses.”
Mark Parsons, managing director of corporate lending – Midlands, North and Scotland at Shawbrook Bank, said: “We are deeply aware of the numerous challenges currently being navigated by businesses across the automotive industry, including the chip shortage and the ongoing impacts from the pandemic. Having already developed a strong relationship with Lander Automotive and their sponsor, we knew the resilience and strong foundations of the well-established business so were able to quickly recognise the opportunities that the new acquisition could bring. We are proud to continue to work with Lander Automotive as the business continues to evolve and as members of The Society of Motor Manufacturers and Traders we are here to support the wider automotive industry.”