Acquisition of hotplate firm set to create new jobs

The world’s leading manufacturer of hotplates for the food industry has been acquired for a seven-figure sum, in a deal backed by Lancashire’s County Council's Rosebud Finance.

The company, which is based in Barrowford, has been acquired by Baldwin Engineering Holdings, whose subsidiary Baldwin Technical Services of Heywood manufactures and installs control systems for the food industry.

Sugden was acquired from the estate of the late Barry Mulholland, the founder and managing director who died suddenly in April 2014, and co-founder and director Keith Sutcliffe. The deal will secure the jobs of the company’s 15 staff. Since Mr Mullholland’s death, Baldwin’s founder Chris Baldwin has taken on the role of managing director at both companies.

Rosebud is a finance package supporting Lancashire firms to grow and expand their business. It is managed by Enterprise Ventures on behalf of Lancashire County Developments Ltd (LCDL) - the county council's economic development company.

"The aim of Rosebud is to create highly-skilled jobs across Lancashire by providing companies with the finance and support that they need. As well as funding your growth ideas, Rosebud also includes complimentary support and advice that's tailored to your business."