Global joining solutions provider MTI announces acquisition of ProspotUncategorized
American owned joining solutions provider Manufacturing Technology Inc, who are known for building some of the worlds biggest friction welding machines, are pleased to announce the acquisition of Tamworth based resistance welding firm Prospot.
Manufacturing Technology Inc. who are well established as a leading provider of resistance and friction welding equipment, spares and subcontract services saw the acquisition of Prospot as a prime opportunity to grow their European subsidiary group, which currently consists of MTI Welding Technologies Ltd (UK) whom had previously acquired the recognised brand British Federal. With the addition of Prospot, the group will have a combined turnover in excess of £10 million.
MTI, who regularly work on multi million pound projects and who service clients such as JLR, Dana, Pratt Whitney and Rolls Royce, identified an opportunity to extend their product offering into the consumables market through the acquisition of Prospot. MTI also saw further product synergies allowing them to improve their customer offering whilst progressing with expansion into international markets through offering automated solutions to customer joining problems.
COO Doug Wait said,
We are very proud to add such a well-respected business to our European subsidiary group. We felt instant synergy with Prospot and also felt that our core competencies are very much aligned. Just like MTI, Prospot has its own rich heritage and identity, with a well-established customer base and we are looking forward to helping the brand grow with our backing and support.
The acquisition will bring a host of benefits to the business including increased engineering support, increased service support, and also considerable investment. The acquisition also means that Prospot now has the automation integration capacity to handle multi-robot cells and can take on much larger, more complicated projects-something which MTI have excelled at in many sectors including automotive, aerospace and oil and gas.
With a focus on ensuring a seamless transition for customers throughout the initial integration phase, new positions will be created in the Automation Division and Customer Project Management and a Robotics and Joining Specialist will be added to the current management team. Further down the line, MTI also plan to use their worldwide sales network to launch Prospot into Europe and the Americas.