Unipart expands its automotive capabilities with the acquisition of Formaplex, creating Unipart Polymer and Composite Solutions. The deal enhances the company’s lightweighting expertise, supporting the transition to electric vehicles.
Performance improvement technology provider, Unipart, has announced its acquisition of Formaplex, a well-known component lightweighting specialist, Formaplex, with implications for the automotive sector.
Founded two decades ago with a focus on tooling for the F1 automotive industry, Formaplex has evolved into a key player in the UK market for polymer and composite solutions. The company is recognised as one of the few high-end polymer injection moulding specialists in the UK, and has built a reputation for delivering top-quality lightweight components for, amongst others, the automotive sector. McLaren, a key client, has expressed strong support for the acquisition and remains committed to the ongoing partnership.
Unipart plans to integrate Formaplex’s operations into its existing manufacturing capabilities, ensuring smooth continuity while seeking to uphold the enhanced operational and safety standards of both companies. Going forward, Formaplex will operate under the new name ‘Unipart Polymer and Composite Solutions’, in-line with its integration into the Unipart family.
Unipart Chief Executive Officer, Darren Leigh, commented: “Growing our manufacturing capabilities through this acquisition expands our offering and aligns perfectly with Unipart’s growth strategy to offer our existing and new customers a breadth of supply chain solutions and performance improvement technologies. It reinforces our commitment to enhancing and growing the UK supply chain.
“I am pleased to welcome the Formaplex team to Unipart and excited about the potential this acquisition unlocks for innovation and growth, enabling us to expand our portfolio and strengthen our position in the UK manufacturing sector.”
Chief Procurement Officer at McLaren, Jorg Laser, said: “We strongly value our long-term supply relationship with Formaplex and we welcome the specialist capabilities that Unipart, a long-standing partner of McLaren, now brings to enhancing this relationship. We are excited to see the innovative solutions and continued excellence that this combination will deliver for us.”
Unipart Manufacturing Group Managing Director, Carol Rose Burke, added: “I am delighted we are further investing in our UK manufacturing capabilities through the acquisition of Formaplex. It will further support supply chains involved in delivering powertrain products used for internal combustion engines and electrification, as well as enhancing our offer for a growing number of uses in various other sectors such as construction and rail.”
Unipart People News
On 14 August 2024, just a couple of weeks after the acquisition news, Unipart announced its Executive Chairman and visionary founder, Dr. John M. Neill CBE, is to retire following a remarkable five-decade career.
A pioneer in the automotive industry, Neill’s journey began at General Motors, where his rapid ascent saw him become their youngest overseas executive. He subsequently joined British Leyland, culminating in his appointment as the youngest Managing Director of the company’s highly profitable Parts Division at just 29.
Neill’s leadership at Unipart spanned over three decades, during which he transformed the company from a parts supplier into a global leader in logistics, manufacturing, and consultancy.
He stepped into the role of Executive Chairman in 2022 and will officially retire on August 31, 2024. While relinquishing day-to-day responsibilities, he will continue to support the business until November 2024 and remains Unipart’s largest individual shareholder.
Neill said, “when I began my career, British Leyland was the world’s fifth-largest automotive manufacturer. Today, Unipart stands as the sole remaining independent company from that era. I take immense pride in what we have accomplished together. The loyalty, commitment, and tireless efforts of our people have sustained this company for decades, and none of us would be here without them.
“At the time of our buyout, the company faced a single point of failure, but today, we operate across multiple sectors, with diverse customers, serving multiple technologies, in multiple geographies. […] Unipart has remained profitable throughout the years and is well-positioned for continued growth.”
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