MMF bought by Docherty Chimney Group
Docherty Chimney Group has acquired MMF.
Docherty Chimney Group has completed the acquisition of one of its competitors, MMF, after business negotiations between the two firms.
The two enterprises will continue to operate separately and shall have over 140 employees.
Group turnover will grow to £20 million as a result of the deal.
"Adding MMF's network of branches and the expertise of their staff means we have dramatically improved our ability to serve our customers across the country," Docherty Chimney Group managing director Allister Moorcroft said.
Heating and Plumbing Monthly reports that MMF's Smethwick factory will soon have a solid fuel line production device installed in it, while its employees will be able to access Docherty's Ripley-based Sure Fire training centre.
Insider Media reports the acquisition was supported with a £3.5 million funding and working capital package from NatWest.
It quoted the bank's director of structured finance Andrew Matthews as saying the lender is delighted that it could provide support throughout this deal.
Posted by Ron Maverick
Source: Press reports, March 23rd