Coventry-based Arlington Industries has acquired Reading-headquartered Magal Engineering Group. CEO Gamil Magal, who was interviewed on BBC Newsnight this week, has built a company which has been working with major car manufacturers for the past 50 years.
Arlington, which is backed by Cartesian Capita Group, was advised by corporate finance house Clearwater International on the deal, which was supported by Wells Fargo and Shawbrook Bank. The investment will also allow Arlington to grow further.
Magal, a Thames Valley 250 company based at Woodley, near Reading, is recognised as a global strategic supplier to Ford, Daimler, Jaguar Land Rover, Renault Nissan and PSA.