EVTEC confirms JVM Castings acquisition

UK automotive supplier EVTEC is set for substantial growth following the acquisition of JVM Castings.

The deal comes after EVTEC secured a £7.4m multi-asset facility from Cynergy Business Finance (CBF).

Coventry-based EVTEC was established in 2021 and produces complex, lightweight aluminium die cast components for industry-leading clients including Jaguar Land Rover, Ford and Aston Martin.

To support its continued acquisition growth strategy, EVTEC worked with CBF to structure a flexible asset-based lending facility to enable the acquisition.

David Roberts, chairman of EVTEC said: “In the last two years we have already established ourselves as a leader in the aluminium die casting industry, and this latest acquisition of JVM will help us to further bolster this position. As our impressive order book of over £700m continues to expand, JVM will be crucial in providing the additional capacity needed to deliver on this.”

Luke Fitzsimmons, corporate sales director at Cynergy Business Finance, said: “Having already achieved significant growth in a relatively short space of time, this latest acquisition for EVTEC will help to further consolidate its leading positioning in the automotive sector.”