TRICORN Group, the Malvern based holding company for a group of companies that develop and manufacture industrial pipe solutions, has sold an aerospace business.
Tricorn has agreed the sale of the trade, certain business assets and liabilities of its subsidiary, RMDG Aerospace Limited, which manufactures and supplies rigid pipes and specific fittings to the aerospace industry, to Sigma Precision Components UK Limited of Hinckley, Leicestershire, a subsidiary of Avingtrans plc.
The sale involved the expertise of various departments at law firm Harrison Clark Rickerbys', where Richard Wilkey, head of its Cheltenham corporate team, said: "We have a strong relationship with Tricorn, having first worked together in 2011. We were delighted to advise on the corporate, employment and property aspects of the sale. The deal will allow Tricorn to focus on its core businesses going forwards and to continue to strengthen its position in the market place."
Mike Welburn, chief executive of Tricorn, added: "We have been delighted with the progress that Tricorn has made in developing its transportation and energy businesses over the last 18 months, and the sale of RMDG allows us to focus on these key areas where there is further opportunity for growth."