SIGN IN
Log In / Register
Global News Link
Bakfin™ bought by Titgemeyer
Add to my favorite
2012-11-26
Baker & Finnemore has been acquired by Gebruder Titgemeyer Beteiligungsgesellshaft (Titgemeyer). A joint release said the purchase increases Titgemeyer’s commitment to UK manufacturing and is complementary to its existing company based in Tipton.
Based in the Jewellery Quarter, Baker & Finnemore was established in 1850 as a manufacturer of pen nibs, graduating to spring steel components. In the late 1940s the company introduced the Starlock® push-on fastener for which it subsequently developed a global reputation. In August 2006 the management team of Derek Sharp, Ian Packer, Paul Yates and John Clark purchased the company from its previous family ownership.
In 2011 Baker & Finnemore achieved a pre-tax profit of £840,000 on £5 million sales, of which around 50 percent currently goes for export. The company has been a supplier to Titgemeyer since the 1960s.
Manfred Titgemeyer told the BakfIn workforce the company would continue as an independent company within the Group. The intention is to support and grow the new acquisition, taking advantage of the strength of the multinational Titgemeyer Group to further expand export sales. David Harrison, previously MD of Titgemeyer UK and of Lintite Systems within the Linread Group, has taken over as managing director.
Based in the Jewellery Quarter, Baker & Finnemore was established in 1850 as a manufacturer of pen nibs, graduating to spring steel components. In the late 1940s the company introduced the Starlock® push-on fastener for which it subsequently developed a global reputation. In August 2006 the management team of Derek Sharp, Ian Packer, Paul Yates and John Clark purchased the company from its previous family ownership.
In 2011 Baker & Finnemore achieved a pre-tax profit of £840,000 on £5 million sales, of which around 50 percent currently goes for export. The company has been a supplier to Titgemeyer since the 1960s.
Manfred Titgemeyer told the BakfIn workforce the company would continue as an independent company within the Group. The intention is to support and grow the new acquisition, taking advantage of the strength of the multinational Titgemeyer Group to further expand export sales. David Harrison, previously MD of Titgemeyer UK and of Lintite Systems within the Linread Group, has taken over as managing director.
