A BELFAST-based investment vehicle has agreed to buy a group of engineering and manufacturing companies in England for £22.3m.
Rockpool Acquisitions proposes the acquisition of the London group Amcomri.
Based on Arthur Street in Belfast, Rockpool Acquisitions was co-founded by Mike Irvine as a Special Purpose Acquisition Company (SPAC). It was listed on the London Stock Exchange in 2017.
Mr Irvine helped found the Davy Stockbrokers brand in Northern Ireland before setting up private equity firm Cordovan Capital Management.
Founded in 2010, Amcomri has taken over several SMEs in recent years.
Its portfolio of nine companies ranges from manufacturers of automotive parts and kitchens to engineering and maintenance specialists. Recent acquisitions include Premier Limpet, the UK’s largest manufacturer of printed adhesive tapes, and Bex Design and Print, a company specializing in screen and digital printing for 35 years.
If the deal goes through, it will constitute a reverse takeover under the listing rules.
Commenting on the deal, Mr Irvine said: “I am delighted that we are able to announce the potential acquisition of Amcomri, which aims to see Rockpool transform from a SPAC into a profitable commercial enterprise.