Last Updated on: 16th August 2024, 06:33 am
Goodfish Group has reached an agreement with Schneider Electric to acquire Schneider’s UK extrusion and assembly business located in Flint. Once finalised, which is expected to occur in October 2024, the business will operate under the name Goodfish (Flint) Limited, joining the Group’s other manufacturing operations in St Asaph, Cannock, and Worcester.
Under this agreement, Goodfish will assume responsibility for the production and supply of a broad range of cable management products currently provided by Schneider Electric to the UK market. Goodfish will continue to produce and supply extruded and moulded products for the UK cable management sector, which will be marketed and distributed through the newly established Cutterwell & Co. Schneider Electric will have no interest in, nor any connection with, Cutterwell & Co.
Upon completion of the acquisition, Goodfish will take over the manufacturing of Schneider Electric’s cable management products at the Flint facility, fulfilling Schneider’s requirements for extruded products destined for overseas markets, primarily in France and the Nordic regions.
Goodfish also produces extruded conduit and certain moulded products for Honeywell’s MK Electric business in the UK, following a similar acquisition completed in January 2020. This business has since expanded from its initial focus on cable management products to include offerings for new customers in the construction, DIY, flooring, and point-of-sale industries.
This latest acquisition will significantly enhance Goodfish’s scale and reach: the company’s manufacturing footprint will expand to 300,000 square feet across four sites in the Midlands and North West, its workforce will grow to 163 employees, its extrusion capacity will double, and run-rate sales are projected to increase to £25-30 million in 2025. These sales will span a variety of sectors including construction, automotive, medical, heating and water, aerospace and defence, and electronics.
Goodfish remains committed to seeking value-enhancing acquisitions related to the production of plastic-centric products in both the UK and continental Europe, as it continues its strategy to scale up and meet the demands of its current and prospective UK and multinational customers.
