Tividale street lighting firm bought in £12m deal
A Tividale street lighting manufacturer has been bought by West Midlands engineering group Hill & Smith in a £12.5 million deal.
Signature Ltd employs around 130 people at its three sites, at Tividale, Winsford in Cheshire and Renfrewshire in Scotland.
Hill & Smith, which makes road safety barriers at its factory in Bilston, said Signature's road signs, traffic signals, street lights and bus shelters would add to its existing range of products for the UK roads market.
There is no suggestion the deal will have any impact on jobs.
Signature, with its headquarters on Hainge Road, has been sold to Hill & Smith by its previous owner, the French-based Plastic Omnium Group.
Signature achieved turnover of £14.8m last year and an operating profit of £1.9m.
Its takeover is the third eight-figure deal completed by the Hill & Smith Group, which also includes the Joseph Ash galvanizing plant in Halesowen, in the last few months.
Chief executive Derek Muir said: "Signature has an excellent range of long-established products which will complement our existing product offering into the UK roads market."
The deal came on the same day that Hill & Smith revealed its performance has continued to improve in the first half of the year. Its revenues clocked in nine per cent higher at £254m, while pre-tax profits were up 28 per cent at £31.7m.
