A West Cumbrian nuclear business has fully acquired an engineering firm.
Core Nuclear Group, based at Lillyhall, near Workington, acquired a majority shareholding in DM Engineering 18 months ago.
This week, it has announced that it has agreed a deal to acquire the remaining shares.
It said since its initial investment, CORE Nuclear Group has led a significant transformation of DM Engineering and this next step solidifies the long-term commitment to strengthening the business and expanding its capabilities within the nuclear, defence and engineering sectors.
DM Engineering will also relocate to larger premises. The business will move to Derwent Drive in Workington, in May this year to a 12,000sq ft unit.
It said while the move had been anticipated, the accelerated growth of the business brought it forward by 12 months.
John McGibbon, managing director of Core Nuclear Group, said: “We’ve invested heavily in the business, kick-starting a lot of growth through investment in people, processes and machinery, and we’re really proud to complete the deal to take the business on to the next level.
“My thanks go to Darren and the team for their hard work and co-operation. As Darren moves on, we are focused on supporting the team he leaves behind and driving the business forward to build something truly special for the West Cumbrian economy.”
