New Owners Announcement – 1st October 2020
ElevAero Ltd has now completed the full acquisition of Formrite Precision Ltd
Despite the current period of uncertainty in the Aerospace Industry, ElevAero is determined to increase its capability and service offering as we look to accelerate our growth to capitalise on what we have achieved over the past two to three years.
Formrite’s existing customer approvals and reputation as a high quality, precision manufacturer and supplier of large, complex machined components, assemblies, tooling and test rigs makes this acquisition a perfect addition to our business, complementing our current machining, assembly and low-cost sourcing offering and taking our combined turnover to over £3m per annum.
ElevAero and Formrite customers will now be able to reap the benefits as we offer the combined capacity of both companies plus our tooling business, ElevAero Precision Manufacturing Ltd in Birmingham.
This, together with the wide range of capacity and capability available in ElevAero’s ever increasing and competitive supply chain creates a unique offering to all existing and potential new customers.
ElevAero thank the previous owners, Geoff, Margaret and Chris Neale for their patience during the past few months and look forward to working with Geoff and Chris as they retain key roles in the business.
We look forward to challenging but exciting times ahead and welcome the opportunity to meet you soon to discuss our plans further.