French-based Assystem-Brime, one of Europe's leading industrial engineering firms, has bought a stake in UK design and engineering support services group INBIS.
INBIS, which has offices Wolverhampton and Coventry, provides design and management consultancy for the aero structures, gas turbines, nuclear and manufacturing automation sectors. Its clients include BAE Systems, Rolls Royce, Airbus, BNFL, UKAEA and Nissan.
The stake in the Preston-based firm was sold to AssystemBrime by Barclays Private Equity and investment firm 3i.
INBIS Group was formed in 1997 by a management buy-out team.
For the year to June 30, 2004, the firm saw turnover of nearly £58 million and profits before interest and tax of £2.1 million.
The purchase, at an undisclosed price, was paid in cash and approximately 100,000 AssystemBrime shares which INBIS management has undertaken to keep for a minimum of two years.
Chief executive of INBIS David Bradley said: " INBIS's fit with Assystem-Brime is excellent and the acquisition will hopefully allow us to take larger contracts."
* Birmingham-based Delcam, the computer-aided design software specialist, has paid £1.6 million for a business in the United States.
It has acquired Engineering Geometry Systems, the developer of the FeatureCAM software.