An award-winning manufacturing firm, that has grown from a one-man operation to a global frontrunner in its field, has been bought by a leading UK investment group.
Staffordshire-based Addfield Environmental Systems and sister company Addfield Projects have been acquired by Darwin Alternatives – who have pledged major investment in manufacturing operations and facilities.
Addfield, based in Burntwood, was bought by Cannock-based entrepreneur Steven Lloyd in 2008. He transformed it from a one-man operation supplying agricultural incinerators in the UK into a global leader in thermal treatment technologies.
It now caters to a wide range of industries, has a workforce of 55 and a presence in more than 140 countries – with a permanent office in the US.
Steven has now decided to sell the company to Darwin to enable it to continue its expansion.
He said: “With Darwin I believe we have found the perfect partner to help Addfield grow and develop its people and product portfolios.
“It has been an incredible journey from quite humble beginnings to International award-winning market leaders.”
While ownership has changed, the leadership will be remaining the same.
Managing Director Derek Carr said: “This represents a major opportunity for us to take Addfield to the next level.
“Following continuous growth in orders in recent years, we have almost been a victim of our own success.
“To maintain our reputation as a global leader, there are a number of improvements that we are ready to make to streamline our production line and improve our services to our customers.
“Darwin’s investment into the workforce and the facilities will help to keep Addfield on the path as the number one manufacturer of incineration equipment, waste-to-energy systems and pet cremation solutions.”
James Penney, Chairman of Darwin Alternative Investment Management, said: “We are delighted to have completed the acquisition from Steve Lloyd. He has built up a great business with an excellent management team. We look forward to working closely with them to develop and grow the product portfolio.”
