The new owners of Stourbridge-based Quality Blasting plan to boost turnover and expand its factory space under a new general manager.
Following its acquision by ActOn Ventures in Coventry, with help from chartered accountants Harrison Beale & Owen (HB&O), Andy Tarr now takes the helm.
Quality Blasting was formed in Birmingham during World War Two to blast shells for the defence industry, and has evolved to its current Stourbridge base where it has around 80 regional clients undertaking a variety of domestic and commercial finishing jobs.
While Quality Blasting will continue to trade under its current name, Andy is planning to use more than 36 years of engineering experience to boost the firm’s turnover past the £1million mark.
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 accountant and financial adviser HB&O made it 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.