TVS Group was put together by private equity firm Elaghmore Partners and comprises SB Components, Priden Engineering and McPhee Mixers. It turned over £45m last year.
Wilcox operates out of a 43,000 sq ft factory based in Market Deeping near Peterborough and employs 100 staff.
It saw its annual turnover plummet in 2020 from £22.9m to £13.9m, but remained in profit, making £392,000 before tax (2019: £952,000).
Wilcox will continue to be led by Vito Ronzano and Chris Bartlett who have owned and run Wilcox since 2000.
TVS Group executive chairman Craig Harris said: “We have had the pleasure of working with Wilcox on a number of occasions and know how highly regarded the business is in the industry. Wilcox will expand our customer offer as we continue to build the TVS Group as the leading player in providing manufacturing solutions to the commercial and industrial vehicle industry in the UK and Europe.”
Wilcox managing director Vito Ronzano said: “This is a significant milestone for Wilcox and we are excited to be joining TVS Group who can take our growth to the next level. We look forward to offering our clients even more services and products and pooling expertise and resources with other TVS Group companies.”
Elaghmore investment director Michael Rice said: “Wilcox is the perfect fit for TVS Group, delivering the key attributes we look for of high levels of technical expertise and best-in-class customer service. We have a clear growth strategy for the group, and we are working ever closer with our fantastic customer base as we look to support their strategies in a commercial and technologically evolving marketplace.”