Cofast will continue to operate from its logistics centre in Plympton and its manufacturing hub in the West Midlands
Andy Williams and Rebecca James (front) with members of the Cofast workforce(Image: Handout)
A fastening supplier with sites in Plymouth and Willenhall, in the West Midlands, has been rescued from administration by a large engineering group, safeguarding a number of jobs. Clarity Group said more than 60 roles across the Black Country and South West had been secured following its acquisition of NDB Engineering and Plympton-based sister firm Cofast.
Clarity said the deal would provide “security and fresh investment” for robotics and productivity improvements. The details of the transaction were not disclosed.
It is understood the business will trade as Cofast moving forward and will look to secure new financial backing in a bid to target multi-million pound opportunities in decommissioning and large domestic naval projects.
NDB Engineering and Cofast managing director Rebecca James will continue to run the business with technical director Andy Williams.
Kevin Robinson, chairman of Clarity Group, said: “Our latest purchase represents a perfect opportunity to increase our presence in two industrial markets that are receiving unprecedented investment.
“Both NDB Engineering and Cofast, a leading provider of standard fasteners and engineering supplies, have excellent relationships in defence and nuclear that we want to maximise through increased efficiencies and investment in the latest technology.”
Mr Robinson said there were “a lot of shared synergies” with Clarity Plastics and the group’s other associated engineering companies.
“Like always, the emphasis is on improving the customer journey by giving them access to technical expertise and production capabilities they can’t get anywhere else,” he added.
Cofast will continue to operate from its purpose-built 22,000 sq ft manufacturing hub in Willenhall and at its 6,500 sq ft logistics centre located just minutes from the A38 in Plymouth.
The business employs 64 people and generates annual revenues of £7m across its fasteners and turned parts order book, and has a 20,000-strong engineered consumables list.
The manufacturing operation in the Black Country deals predominantly in bespoke customer applications, working in exotic alloys in sizes ranging from 1.6mm to 48mm.
“We have been delivering critical parts for the nuclear and defence sector for nearly three decades, with our turned parts and fasteners used in applications deployed by some of the world’s biggest organisations,” said Ms James.
“This trust in our manufacturing ability is something we can really drive by being part of a bigger group.
“There are lots of opportunities in new infrastructure projects and we’re already working alongside our sister businesses to explore new markets where our engineering knowledge and machine capacity can make a difference – aerospace is a prime target.”