Sheffield-based Betafence snaps up blast barrier firm
Sheffield-based Betafence has snapped up a Leeds company that makes blastproof barriers used in war zones.
The firm, based on Shepcote Lane, bought Hesco for an undisclosed sum.
Hesco has been a long term partner of Betafence and, following this transaction, will operate as a standalone subsidiary, led by its current chief executive Michael Hughes.
Mr Hughes said that the acquisition was a positive move for Hesco’s 92 Leeds-based staff because it gave them the opportunity to become part of a complementary global business.
Betafence, which is headquartered in Belgium, has nine production sites in eight countries.
It employs more than 1,400 staff.
Michele Volpi, chief executive officer of Betafence Group, said: “We are delighted to acquire such a renowned business.
“The deal underpins Betafence’s accelerated international growth strategy to provide global protection solutions to secure assets and protect people.
“Hesco has an excellent track record with international customers in the defence, oil and gas and energy sectors, particularly in
the US and the Middle East.
“Betafence and Hesco are dynamic players in a market facing a growing global need for comprehensive security solution.”