Elite Tooling, Rotherham, has been acquired by the largest manufacturer of cutting tools in France, Tivoly Group.

Elite Tooling had a turnover in 2008 of  830,000 franc, with earnings before interest, taxes, depreciation and amortization (EBIDTA) of 20 per cent. The company employs six people, and the existing directors and staff will all remain with the company.

The Tivoly group says that the new member of the group reinforces its position as a first tier supplier in the aeronautical industry, and that the combination of highest quality and short lead time delivery will give them a considerable advantage in this market.

Elite Tooling is positioned within a niche market, claimed unique within their market segment ,as an SME fully competent in the design, development and manufacture of highly specialised cutting tools, with a 2-7 day turnaround.

"This is a very exciting time for our business as it puts us in a strong position to serve a much larger market," said Bob Hill, managing director, Elite Tooling. "We are looking forward to the advantages of being part of a global group, while retaining our core values of excellence in quality, service and technical support."