Global manufacturing giant Senior has sold its heating and ventilation ducting supplier division Senior Hargreaves to the German M + W Group for an undisclosed sum.
Senior said Senior Hargreaves no longer fitted with its strategic direction.
Senior's chief executive Mark Rollins said: 'I am very pleased to announce the disposal of Hargreaves to M+W and to wish the management and employees of Hargreaves all the very best for the future with their new, and more logical, owners.'
Peter Greenhalgh, chief executive of M+W UK based in Chippenham, said: 'We are very happy to have concluded the acquisition of Hargreaves. The Hargreaves team have a long history and extensive experience in technology based projects, which fits well with our strategic plans for sustained growth in our target markets of science and research, technology manufacturing facilities and energy-based programs.'
Senior Hargreaves - which was bought by Senior in 1957 - was founded in Bury in 1872, originally trading as Henry Hargreaves and Sons. It had sales of £17 million in the first nine months of the year. Net assets at the end of September were £2.6m.
Stuttgart-based M+W, which generated €2.5 billion in revenue last year, is a global engineering, construction and project management company.
