Founded in 1978 by director Bob Andrews, Nautic Steels' products are extensively used for sea water systems including process cooling, fire water applications and desalination plants.
The company has been sold to Malaysian conglomerate Pantech Group Holdings for an undisclosed sum.
Following the sale, majority shareholder Bob Andrews will remain in the business for a short period, but now plans to devote more time to his number one interest outside of work - supporting Tamworth FC where he is club chairman.
employ around 70 people at its manufacturing plant on the Tame Valley Industrial Estate which specialises in a wide range of materials used in marine and offshore hazardous environments such as copper nickel, austenitic stainless steels and nickel alloys.
For Pantech, the acquisition of a European based business with a strong brand will help strengthen the company's worldwide sales, whilst complementing its own piping product range which is manufactured using mainly carbon steels.
Commenting on the deal, Mr Andrews
said: "Pantech serves similar markets to Nautic
making us an ideal fit for their business as they look to further build international sales of pipes, fittings, flanges, valves and other pipe related components.
I received very good support from the team at Hawkins Hatton
and am now looking forward to devoting more time to Tamworth FC
which has punched above its weight in the Conference league over recent seasons."
Colin Rodrigues, corporate partner at Hawkins Hatton, said: "As this was an international transaction it brought its own unique challenges, but we were delighted to have advised Bob Andrews throughout the process and bring about a successful sale."
Photo caption: Colin Rodrigues (left), corporate partner, Hawkins Hatton
, Bob Andrews