The future of two Shropshire specialist precision metal pressing and finishing companies has been secured in a takeover deal, securing the jobs of more than 50 workers.

Highley-based Leonardt Limited, which supplies luxury brands including Cartier and Dunhill, has acquired Telford-based Berkeley & Co for an undisclosed sum.

The deal will see Berkeley & Co’s production move to Leonardt’s site near Bridgnorth.

Established in 1856, Leonardt is a world leader in the production of metal corners for the diary and leather goods industries and provides sub-contract metal finishing services to other manufacturers.

Customers include the corporate promotional products market, as well as household name diary manufacturers, such as Charles Letts, and luxury leather goods producers, such as Cartier and Dunhill.

The company also produces pocket clips, plated with precious metal, for pen manufacturers, including Parker. At present the company exports more than 35 per cent of its production to Europe, North America and the Far East.

Using similar manufacturing techniques as Leonardt, Berkeley produces split rings for key rings, predominantly for use in the corporate gifts and promotional goods market, as well as metal and plastic buckles for leather goods, clothing, fashion and pet product manufacturers. The company was founded in the early 1900s.

Black Country-based law firm George Green LLP and CK Chartered Accountants advised Leonardt on the deal, while financing was supplied by Lombard, the asset finance provider.

Buyout

The four-strong Leonardt management team, which acquired the business in a management buyout in 2006, plan to combine Berkeley’s manufacturing capabilities with its own, moving all production to its Highley site.

Leonardt director Paul Meredith said: “The two companies use similar metal forming and finishing techniques, and in the corporate goods market share some customers, so there are strong synergies between the two companies, as well as opportunities. We have also known and worked closely with Berkeley for some time.

“Consolidating operations on to one site saves operating costs, securing the future of both businesses and giving us a solid foundation for growth once the economic situation improves. We see a real opportunity to increase the export market for Berkeley products.”