Hull-based lift equipment manufacturer Pearson and Curtiss has acquired local rival J.W. O’Pray & Sons for £1 million.

O’Pray & Sons manufactures wire rope and chains for the lift market and operates across the North of England, Yorkshire and Scotland. The combined group will employ 19 staff and will generate revenue of £2 million.

The deal was backed by asset-based lender Absolute Invoice Finance, with additional funding provided by the Hull Business Development Fund and Yorkshire Forward’s Partnership Investment Finance.

Andy Svenson, director of Pearson and Curtiss, says the deal will enable the business to benefit from a broader customer base and economies of scale.