The deal includes Damar subsidiary Murray Control Systems, a designer and manufacturer of specialist control systems and panels.
Damar now becomes part of the Power Systems division of Finning but will continue to operate under its own name.
As part of the sale, Finning has acquired the Damar headquarters near Bath and the Murray Control Systems office in Southampton as well as a number of other assets. The 113 staff will also transfer as part of the deal.
"This deal is good news for both Finning and Damar who bring highly valued specialist engineering and in-house capabilities to our business which allow us to achieve our mid to long term strategic goals, strengthening our technical capabilities in key markets such as the water industry," said Finning Power Systems director David Oates. ]
“We will provide access for Damar to both our national network and to a broader customer base. We will also provide the kind of backing and support that you would expect from a large global business for them to achieve the next steps in their strategic growth plans. Through collaboration, we will jointly commit to extending the capabilities and solutions on offer to both Finning and Damar customers."
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