Business

Belfast investment vehicle Rockpool proposes £22 million takeover of GB engineering group

The London-based Amcomri Group includes nine engineering and manufacturing firms.
The London-based Amcomri Group includes nine engineering and manufacturing firms. The London-based Amcomri Group includes nine engineering and manufacturing firms.

A BELFAST-based investment vehicle has agreed heads of terms to buy a group of engineering and manufacturing businesses in England for £22.3 million.

Rockpool Acquisitions is proposing the acquisition of the London-based Amcomri Group.

Based on Belfast’s Arthur Street, Rockpool Acquisitions was co-founded by Mike Irvine as a special purpose acquisition company (SPAC). It was admitted to the London Stock Exchange in 2017.

Mr Irvine was involved in establishing the Davy Stockbrokers brand in Northern Ireland before going on to establish private equity investment firm Cordovan Capital Management.

Set up in 2010, Amcomri has been snapping up a range of SMEs businesses in recent years.

Its portfolio of nine businesses ranges from automotive parts and kitchen manufacturers to engineering and maintenance specialists. Recent acquisitions include Premier Limpet, the UK’s largest manufacturer of printed adhesive tapes, and Bex Design and Print, a 35-year-old specialist screen and digital print business.

If the deal goes through, it will constitute a reverse takeover under listing rules.

Commenting on the deal, Mr Irvine said: "I am delighted that we are able to announce the potential acquisition of Amcomri which is intended to see Rockpool transform from a SPAC into a profitable trading enterprise.”