Polyrack expands into the UK with Verotec buy
Polyrack Electronic-Aufbausysteme GmbH has acquired a majority stake in chassis maker Verotec in Hampshire, UK, for an undisclosed sum.
Tim Armstrong will continue to serve as Managing Director of Verotec UK under Polyrack, and will also stay on board as a shareholder. The strategic partnership enables Polyrack to serve the UK market in the future from a local base.
Verotec has recently completed its expansion to a second facility in Bishops Waltham. The expansion includes an ESD controlled assembly area and a powder coating paint line, enhancing its production capacities.
The company is also working towards obtaining the EN/AS 9100 accreditation (on top of ISO 9001), which will benefit the entire company group, particularly for products with specific requirements for the aerospace and defence markets.
Polyrack spins out aerospace subsidiary
Following the closure of ED Metallbearbeitung GmbH in Bremen, Germany, Verotec has fully acquired the intellectual property, tooling and material of the KM6 and VEcase700 product families and is already meeting customer needs with these products.
Vero Electronics GmbH was founded in 1964 in Bremen, where it grew to a business with over 400 employees, specializing in the manufacture of power supplies and 19” packaging solutions for the electronics industry.
Since 1995, a number of sell-offs, mergers & failed acquisitions saw its name change from APW to HDD to ED-Metallbearbeitung, closing in April.
“This acquisition strengthens Polyrack’s market position in the United Kingdom and beyond” says Andreas Rapp, CEO of the Polyrack group. “Verotec is a well-managed and successful company and we are happy to add such a legacy name to our group of companies. The synergy effects and strategic alignment of these two companies create a solid foundation for future growth and innovation.”
“From now on, we will benefit from the enhanced production capabilities and technological expertise of the whole Polyrack Tech Group. Polyrack puts us in a unique position to serve the UK market. Different disciplines in manufacturing and specially the engineering capabilities will benefit our existing and future customers and enable the growth of Verotec in the UK,” said Tim Armstrong, Managing Director of Verotec UK.