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St Neots engineering agency Titan in buy-out

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2:24 PM February 1, 2022



A administration buy-out at St Neots engineering agency Titan has taken the chequered flag.

Titan began life as a motorsport racing workforce however has advanced right into a mainstream automotive engineering enterprise over the past decade and is now a number one provider of elements to excessive efficiency car producers in addition to creating complicated steering know-how for superior autos.

The transfer on the agency, which employs 80, follows the retirement of Oz Timms and Diana Thomas after 40 years and the switch of possession to a brand new shareholder workforce of George Lendrum, Eamonn Byrne and Michael Sheridan, all of whom have been with Titan for a number of years.

The agency stated this meant a seamless transition with no disruption to employees, shoppers and stakeholders and that they have been trying to a “dynamic and thrilling” future.

 George Lendrum, chief govt, stated: “The change of possession at Titan is a big milestone for the enterprise.

“Oz and Di deserve a lot respect for the best way the corporate has developed, and we are going to proceed alongside the identical path which we now have overseen lately.”

He stated: “At current, there are numerous thrilling and progressive initiatives happening within the automotive sector, and Titan has labored diligently to be a part of the electrical revolution as a provider of progressive power-assisted and autonomous steering applied sciences.

“The corporate can be diversifying its supply into adjoining scientific markets requiring related manufacturing providers.”

Lake Falconer, accomplice at PEM Company Finance, stated: “Titan is a superb enterprise on the innovative of electrical and autonomous car know-how and with sturdy motor racing heritage. This deal secures administration and possession succession and we’ve loved working with George, Eamonn and Michael to place collectively the MBO.”

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The Company Lending workforce at Shawbrook Financial institution supported the brand new house owners with a finance bundle for the change of possession.

Oliver Sutton, director at Shawbrook’s company lending workforce stated: “ We labored carefully with them to know the enterprise, their various buyer base and impressive plans for future progress. Thrilling occasions lie forward for Titan,  an excellent enterprise with a 45-year historical past of excellence.”

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