A North East engineering firm has taken over a neighbouring company just a few miles away.

NTG from Team Valley in Gateshead is expanding its capabilities and resources with the acquisition of ABS Precision from Longbenton.

Specialists in hydraulic bolting markets and supplying customers globally, ABS will join the NTG group of companies and will continue to scale its operations as part of the larger business.

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NTG will support ongoing investment in people, technology and business development functions that will help ABS grow its market presence in specialist industries including hydraulic bolting, electric vehicle and general precision engineering applications.

Utilising state of the art CNC machine tools at a 20,000 square foot facility in Longbenton, and employing 45 highly skilled and experienced staff, ABS has developed longstanding relationships and a reputation for producing high quality components and systems.

It has also developed capabilities in specialist components for applications in the electric vehicle market, which is one of the synergies between the companies.

ABS was established in 2004, with its founders remaining majority shareholders, and is led by a strong management team under managing director Chris Ainsley, remaining to deliver its scale-up strategy.

NTG’s acquisition of ABS is supported by its investors led by Ignite Growth LLP, the private equity firm that acquired a majority stake in the company as part of a Management Buy Out in early 2021.

NTG manufactures high value components and assemblies for sectors including offshore energy, automotive, defence, food production and power generation.

Mike Hutchinson, managing director of NTG Holdings Limited, said: “The cultures within the two organisations are remarkably similar, which will ensure a smooth integration and enable us to quickly get on with scaling ABS further, while helping to further build NTG’s capabilities with the skills and technologies in our newly acquired business."