Norwich-based Acteon Group to sell manufacturing firm Mirage in multimillion pound deal
Acteon Group is to sell its Derby-based manufacturing business Mirage Machines to a New York Stock Exchange-listed company in a multimillion pound deal.
The Norwich-based subsea services giant has agreed to sell Mirage, which designs and manufactures portable machines for the energy sector, to Actuant Corporation in a deal worth approximately $16m.
Acteon acquired the family-founded firm in 2006.
Actuant chief executive Randy Baker said Mirage would be a “strong complement” to its existing Hydratight business, which also produces tools for the energy industry.
It comes after Acteon, a member of the EDP/EADT Top 100 list of Norfolk and Suffolk’s biggest companies by turnover, signed a $12m deal to buy marine engineering firm Viking Seatech from the American industrial group.
Mr Baker said the decision to divest Viking Seatech was “not taken lightly”.