WEEKS after world-renowned fishing rod-maker Hardy & Greys was put up for sale, its hi-tech sister company has also been put on the market.
Hardy Advanced Composites (HACL) was originally the research and development arm of the fishing rod maker, but earlier this year became a separate company with its own clients in the aerospace, defence, Formula 1 and medical device industries.
The Alnwick-based business was established in the late 1960s to develop rod components using the newly invented glass fibre and later carbon fibre materials.
Since the late 1990s, it has increasingly worked on product areas outside of the traditional rod business – such as communications masts for the SAS, parts for Airbus, on America’s Cup yachts, in the NLAW anti-tank weapon, in medical devices used by surgeons and on the International Space Station.
The growth in the non-fishing equipment side of the business has led management to make HACL the subject of a separate sale process.
Director Chris Bond said: “The decision to sell us separately from the fishing business reflects the likely interest from a totally different kind of buyer.
“Perhaps from this region, they could well be a Tier 2 supplier such as a local engineering company looking to add composites to their portfolio.
“We’re a business with a £1m turnover, blue chip clients, a fantastic product, a talented workforce and – with a new three-year lease on our factory just signed – aim to be here for the long-haul.”