The future of a crane services business and its workforce has been secured following a takeover by a major French group.
Rob Lewis, managing director at Crane Services in Amblecote, had decided he wanted to retire after reaching the age of 61, and has sold the business to REEL, a Â£400m-a-year nuclear lifting specialist with operations around the world.
The price tag on the takeover deal is not being revealed but a Crane Services spokeswoman said it would mean â€˜job security for allâ€™.
The company currently employs 13 people at its Platts Road head office and workshop, with another dozen employed at REELâ€™s UK site near Reading.
Crane Services has been in operation for more than 55 years providing products and services from repair and maintenance, design, manufacture and a full range of electrical equipment includings its successful Flex radio control system.
REEL took over this weekend, although Mr Lewis will remain at the company for a few months as part of the hand-over process.
Mr Lewis said; â€œI am at that stage in life where I want to enjoy my retirement. I have always wanted to travel. Now that Iâ€™m 61, I feel itâ€™s time while I am young and fit enough to enjoy it. I have for some time been thinking about succession.
â€œThe lifting equipment industry is far more complex and technically challenging than it was when I started all those years ago. Itâ€™s time for a younger generation to take the company forward.Having made the decision that it was the right time to sell, I couldnâ€™t have been a better match.
â€œREEL is a French family run business with similar ethics and values to us here at Crane Services.
â€œEager to expand their UK operations, we were the ideal fit. It already feels like they are our long lost parents.â€
During 2014 both businesses will be in the process of integrating operations. REELâ€™s UK managing director Howard Dixon said; â€œWe are both delighted and excited by our acquisition. Crane Services has a great heritage in the UK.
â€œIt is our goal to continue providing the highest level of service during this time and we look forward to a long and mutually beneficial relationship with our customers.â€
Based in France, REEL employs more than 1,800 people on four continents, working in the fields of energy, aeronautics, the offshore industry, defence, metallurgy, industry and the environmental sector.