Quality Blasting looks to grow under new ownership
The new general manager of Lye shot blasting business Quality Blasting is looking to grow its turnover and expand its factory space.
Andy Tarr has recently joined the business on Old Forge Trading Estate after it was bought by metal finishing firm ActOn Ventures from Coventry.
Quality Blasting was originally formed in Birmingham during the Second World War to blast-clean shells for the defence industry, and has around 80 regional customers for which it undertakes domestic and commercial finishing jobs.
Mr Tarr, with 36-years engineering experience under his belt, is aiming to increase annual turnover past the £1m mark for Quality Blasting, which operates from two 5,000 sq ft units and has an additional 5,000 sq ft which it is looking to utilise.
The company, which has a team of 11, has been at Lye since the 1980s.
Andy said: “This is a business that has been trading at a stable level for some time, but there is so much potential for it to develop further.
“We are currently trading out of two 5,000 square feet units but we have an additional 5,000 square units of space, which we are looking to capitalise on.
“So often our customers only currently come to us for one service before they have to find somebody else for their next stage of the finishing process, and that is something we are striving to change.
“We have a team of 11 that are currently managing around 30 jobs a week, and a lot of work has gone into improving our efficiency levels so that we’ll be ready to tackle an increase in orders.”
ActOn Ventures acquired Quality Blasting – also known as Tecwin Limited – earlier this year after their accountants and financial advisers HB&O made them aware of the investment opportunity, including a valuation of the business and structuring the deal.
Sid Gulati, managing director at ActOn Ventures, added: “Quality Blasting is a well-run business that has built up a solid reputation in the industry, so when the opportunity arose to purchase the firm, we knew it was the ideal investment to expand into a new area and grow.
“It was important that we appointed somebody with the drive to take the business to the next level, and Andy’s vision for how he wants to grow the business proves he is the right man to oversee the next stage of its journey.”
Phil Ewing, director at HB&O in Coventry, and Greg Philp, Head of Corporate Finance at HB&O, assisted ActOn Ventures with the acquisition of Quality Blasting.
Both businesses are now also utilising HB&O’s Virtual Finance Office (VFO) service – a cloud-based tool offering the equivalent financial services of an in-house accounts team - to improve day-to-day efficiencies.
Phil said: “We are delighted to have successfully identified an investment opportunity that strengthens ActOn Ventures’ position in the finishing industry.
“Both firms have exciting plans to grow together, and by accessing our Virtual Finance Office service, this will enable both Sid and Andy to dedicate more time to developing the range of services which they can provide to their growing number of clients.”
