Goodfish Group has strategically expanded its operations by acquiring Schneider Electric’s UK extrusion and assembly business located in Flint. This acquisition aligns with Goodfish Group’s expansion plans and enhances its manufacturing capabilities. The Flint business will be rebranded as Goodfish (Flint) Limited, complementing existing sites in St Asaph, Cannock, and Worcester. The acquisition is set to be finalized by October 2024.
Impact on the UK Cable Management Market
Following this acquisition, Goodfish Group will inherit the responsibility of manufacturing and supplying a wide inventory of cable management products previously offered by Schneider Electric to the UK market. These products will be distributed through the newly established Cutterwell & Co., a venture independent of Schneider Electric. This move represents not only a broadening of Goodfish’s product offerings but also a strategic alignment with new market opportunities.
Increased Manufacturing Footprint
The acquisition marks a significant expansion for Goodfish Group, increasing its manufacturing footprint to 300,000 sq. ft. across four strategic locations in the Midlands and North West. This increased footprint will host an expanded workforce, growing the company’s team to 163 employees, showcasing a commitment to job creation and regional economic contributions.
Enhanced Production Capacity and Revenue Growth
Goodfish Group plans to double its extrusion capacity, a significant uptick that is anticipated to drive run-rate sales to an impressive £25-30 million by 2025. This growth trajectory is supported by expanded manufacturing capabilities catering to diverse sectors including construction, automotive, and electronics, among others.
Previous Acquisition Success
This acquisition follows Goodfish Group’s successful precedent, notably the acquisition of Honeywell’s MK Electric business in January 2020. This strategic move expanded the group’s product portfolio beyond cable management to encompass solutions for the construction, DIY, flooring, and point-of-sale sectors. Such diversification has cemented Goodfish Group’s reputation for adaptable growth and market responsiveness.
Future Outlook
With the additional capabilities from the Flint site, Goodfish is poised to significantly influence not only the UK market but also overseas markets, predominantly in France and the Nordic countries. By meeting Schneider Electric’s product requirements for these international markets, Goodfish is set to strengthen its international presence and competitiveness.
What does this acquisition mean for Goodfish Group’s market position?
This acquisition enhances Goodfish Group’s market position by expanding its manufacturing capabilities and product offerings. It allows the company to meet broader market demands and enhances its competitive edge in both domestic and international markets.
How will the acquisition impact employees and local operations?
The expansion will increase the number of employees at Goodfish Group to 163 across four sites. This demonstrates a strong commitment to local economic development and job creation, potentially providing more employment opportunities in the regions where Goodfish operates.
What are the future growth prospects for Goodfish Group following this acquisition?
Future growth prospects are robust, with expected sales reaching £25-30 million by 2025. The acquisition enables the company to double its extrusion capacity, enhancing their production capabilities to meet demand across various sectors, including construction and electronics, on a global scale.
