Presco Scaffolding was once a leader in the market for scaffold fittings, couplers and ancillary items. It became Presco Components Ltd in 2005 under the new ownership of Christopher Parkes and John Morgan.
In recent years its turnover has shrunk, however, and it has now been acquired by Steve Tysoe and Ian Smith, both former directors of Beaver 84, a distributor of scaffolding, fencing and groundworks products for hire and sale.
The deal comprises all the intellectual property, trademarks and brands associated with Presco as well as its Presco's 10,000 sq ft factory and distribution centre in Walsall, its 14 employees and its supply deals with half a dozen factories in China. The price was not disclosed.
The new owners plan to take Presco into bespoke scaffolding systems. They also plan to sell direct to end users but without undercutting existing distributors, they say. Key customers will also be offered bespoke marketing plans and some stock will be available to hire.
Steve Tysoe said: "Presco was a company at the top of the supply chain with a name not rivalled by any other in its market. We intend to refocus and return it back to its rightful place as well as expanding it to ensure that a great British business name is not lost as many others have been over the years.
"Our intention is to grow the business through partnerships, a more focussed approach to the client, either distributor or end user, to add products that enhance the current range and to bring back the bases of UK manufacturing where appropriate."