STRIDE Industrial Group Ltd, a major employer in Redditch, has acquired William Smith & Son – makers of the renowned Neptune brand of needles and pins, and one of the town’s oldest family businesses.
The mutually-agreed deal will enable the larger group – which employs more than 60 people – to exploit new opportunities for growth in the UK and overseas.
“It is a perfect fit of two thriving local businesses with complementary strengths,” said Graham Howes, chairman of Stride Industrial Group Ltd – the UK’s largest springwire wholesaler.
“We have had a business relationship with William Smith & Son going back 20 years. The firm is an integral part of the town’s industrial heritage, and is synonymous with the needle industry for which Redditch is famous.
“We now have the resources to grow it further but will retain the quality, standards and ethos that William Smith & Son’s reputation has been built on.”
Michael Daly, great great grandson of the firm’s founder, William Smith, and the sixth generation owner, said joining with Stride paved the way for the next stage in the development of the family business.
“We will retain our skilled and dedicated workforce and carry on making the needles and pins under the Neptune brand, which is recognised around the world,” said Mr Daly.
The operation will continue as William Smith & Son within the expanded Stride group.