ETG now offers 3D printers following acquisition of HK Holdings

Engineering Technology Group (ETG) has acquired HK Holdings and all of its subsidiaries from the Pexion Group, boosting its product offering.

The company, based in Wellesbourne, is now able to offer its clients CNC machining, wire EDM machines, 3D printing and additive manufacturing.

Martin Doyle, managing director of ETG, said: “3D printing, in particular, has gone through the ‘proving’ stage and is now seen as a viable way of manufacturing for subcontractors and OEMs. As a result, the surge in sales in the marketplace is huge and expected to hit $14 billion globally by the end of 2020.

“We had two choices. Look to take on existing principals and agree new distribution agreements or purchase a company that is already established in the sector and can boast immediate access to world class brands and a whole host of technical expertise with their current staff.”

He continued: “Pexion Group is a key account for ETG, with multiple CNC machines installed across its group of companies. We knew it was reviewing how to develop HK Holdings so decided we would approach it about the possibility of integrating it into our business.

“It’s a perfect fit. We have a nationwide network of customers for CNC machining and automation and a lot of those have a need for EDM machines and additive manufacturing…and this works the other way too.”

Darren Turner, co-owner of the Pexion Group, added: “The majority of our businesses are focused on manufacturing and this deal provides HK Holdings with a new parent that can really unlock its potential and technical expertise.

“It’s a good acquisition for both parties and gives us the opportunity to focus on our core manufacturing activities, whilst the additional funding generated will help us deliver our ambitious growth plans.”

The Engineering Technology Group (ETG) delivers highly productive turnkey solutions to customers involved in aerospace, automotive, high value engineering, medical and oil and gas. Its portfolio of world class brand includes Chiron, Nakamura, Quaser, Hardinge, Bavius and Stama.

The acquisition of HK Holdings gives it access to industry-leading brands in additive manufacturing, including 3D Systems and Markforged. On the EDM side, ETG will now sell the latest Mitsubishi and OPS-Ingersoll EDM machines, which includes one the fastest EDM models in the world.

Engineering Technology Group www.engtechgroup.com

HK Holdings www.hktechnologies.com