VFE announces acquisition of AIC Service
12 August 2016 /VFE announces the acquisition of the services division of Autoclave & Industrial Controls – AIC Service – a leading provider of services for autoclaves and industrial ovens.
AIC Service is a leading provider of technical support, repair, maintenance, refurbishment and calibration services for autoclaves, hot drape formers and industrial ovens. The business is part of Autoclave & Industrial Controls Ltd, a Poole-based company established in 1990. AIC Service’s team of engineers serves a blue-chip, global customer base, primarily in the aerospace and high-end automotive industries.
AIC Limited will now focus on the design, manufacture of new equipment, upgrades and refurbishments together with their AMCS Controls and software. VFE and AIC will continue to work closely together in an operational partnership.
The transaction is financed by SEA Equity, the private investment firm that backed the management buy-in of VFE in February 2015. It marks the third acquisition since Elliott Nicholson and Stani Schmidt-Chiari founded the firm two years ago.
Since obtaining growth financing from SEA Equity, VFE has significantly expanded its contract servicing and repairs business. The acquisition of AIC Service will further increase VFE’s ability to provide world-leading service to its customers and significantly expands its service offering. As part of the transaction, AIC Service’s engineers will become part of the VFE team whilst continuing to work with existing customers. As part of VFE, the business will trade under the AIC Service brand.
Tony Toll, AIC Chief Executive, commented: “I am excited for the prospects of AIC Service under the ownership of VFE. The two businesses share a commitment to excellent customer service and have highly compatible and complementary skill sets. VFE is ideally placed to grow AIC Service whilst also providing continuity to its current customers.”
AIC Service team board broadens our capabilities
Charlie White, Managing Director of VFE, added: “I am delighted that the AIC Service team is joining VFE. Over the last 18 months, we have been working hard to expand our service and repairs business and provide our customers with the best possible service delivery. Having the AIC Service team on board broadens our capabilities to service autoclaves and other industrial ovens as well as provide UKAS calibration services, and represents a significant step forward in our growth strategy. SEA Equity has been highly supportive throughout the transaction and continues to be a great partner as we take VFE through the next stage of growth.”