Oleo International, whose products are used in the crane industry, and sister companies Oleo Buffers Shanghai Co Ltd (China) and Oleo International (USA) have been purchased from parent company Wagon plc, which went into administration in December, 2008. The deal secures 102 jobs in the UK and 30 jobs in Shanghai, China.
Wolverhampton, UK-based Brigam said it had been interested in buying Oleo “for many years”, and is now looking to “take the business forward” and develop a “strong long-term business”.
Other companies within the group include hydraulic solutions manufacturer Savery Hydraulics and access cover fabricator Steelway Brickhouse.
“Oleo is a strong business due to its diverse product and geographical markets,” said Oleo International managing director Allan Binstead.
“We have a full order book going forward and Brigam shares the same specialist engineering values as Oleo.”
