Norfolk Business Awards 2018

Norwich-based Acteon Group to sell manufacturing firm Mirage in multimillion pound deal

Acteon offshore energy company.  For: Sam Williams. Picture: Archant archives

Acteon offshore energy company. For: Sam Williams. Picture: Archant archives

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”.

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