Industry News

Karnell has acquired 92.5% of UK-based Plalite’s shares with an option for the remaining stake in 2026. The minority shareholders will stay active in the company post-sale, with Darren Cordell and Tony Bess remaining for a handover period.

A precision engineering company whose customers include a Formula 1 team, Plalite Ltd, based in Sittingbourne, Kent, UK, was founded in 1968 and its core business is CNC machining to support the aerospace and motorsport industries – from its purpose built 1,300m² site.

Darren Cordell and Tony Bess, directors of Plalite, decided to sell the business in preparation for their eventual retirement, and strong interest resulted in eight offers being made, which were split between trade and investment acquirers. The successful buyer was Swedish-based Karnell Group, which specialises in owning market leading industrial technology companies, primarily in the Nordic region. 

“We look forward to developing Plalite through the new collaboration with Karnell,” said Darren and Tony. “They have shown a good understanding of our business and see the same potential as we do. Karnell has solid experience in the field within the group that we believe we can learn from.”

Petter Moldenius, CEO of Karnell, added: “We are impressed by Plalite’s technical know-how and robust customer relationships and are convinced there is great potential to continue growing with customers in selected segments – who value Plalite’s qualities.”

The UK represents a new venture for Karnell. “In addition to the current focus on the Nordic markets, Karnell has analysed the opportunities for growth in the UK for some time and can conclude it has yielded results,” explained Petter Moldenius. “We are convinced our model, with a long-term ownership perspective and willingness to invest in our companies with a clear growth ambition, should be able to attract successful companies and entrepreneurs to join Karnell.”