Fresh acquisition is secured by Acteon
Awards entrant Acteon in Norwich has acquired Derby based Mirage Machines, a leader in machine tool technology. Financial details of the deal were not disclosed.Awards entrant Acteon in Norwich has acquired Derby based Mirage Machines, a leader in machine tool technology. Financial details of the deal were not disclosed.
Mirage designs and manufactures portable on-site machine tools for a range of applications. The Mirage name will be retained as an Acteon product brand.
Acteon intends to grow the Mirage business by placing emphasis on value-adding machine tool services, as opposed to the straightforward supply of tools. Mirage’s recognised technology skills will be combined with
Acteon’s experience in the field to offer customers a high-quality service capability, a model that Acteon has successfully employed in other parts of its business in the past.
Mirage and Acteon already know each other well, as various Acteon companies already use machine tools designed and developed by Mirage.
Acteon Vice President Lance Davis said: “Mirage’s technology skills, especially in cold cutting, will enhance our offering in some important, established business areas, notably conductor installation, well slot recovery, and well and platform decommissioning.
“Mirage should also help Acteon gain entry into new markets, as it supplies machine tools to the nuclear decommissioning industry and wind-turbine installers.”
Acteon has grown steadily in recent years through a series of carefully targeted acquisitions in the UK, Europe and the USA, and by focusing on oilfield services and technology that link seabed infrastructure with surface facilities.
Mirage will continue to be led by Richard Silk with support from his father, George Silk, who founded the company in 1993. Richard Silk said: “This is a welcome development. Becoming part of Acteon presents an outstanding opportunity.
“As well as benefiting from the capital investment that Acteon intends to make in Mirage, we will gain from being linked to other group companies that possess complementary skills.”
Before its acquisition, Mirage was planning to move into larger premises in Derby.