Aluminium Developments Group acquires Corby based Aluminium Shapes

Aluminium Developments Group, an aluminium extrusion and component manufacturer, has acquired Aluminium Shapes from private equity firm Pemberton Capital. Aluminium Developments Group chief executive Joe Martoccia and Anglo European Group have taken a significant equity stake in the business.

Martoccia said: "Investment from Anglo European Group and the management team, together with funding from AIB (GB), delivers a well-structured, robust platform for success in what is an exciting and dynamic sector.”

 “Collaboration with Anglo European in the fenestration and road transport markets will provide additional opportunities for growth, building on what is an already diverse customer base.”

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“Aluminium Shapes is a solid company, with the additional investment and combined expertise of the management team we can significantly accelerate the growth of the business,” he concluded.

Aluminium Shapes, based in Corby, provides end-to-end service through to component production. The company announced a £9m turnover and £850,000 profit in accounts ending June 2016. Aluminium Developments Group and Anglo European Group are both based in Manchester.