A long-established Medway firm expects a 10% turnover lift after snapping up a Midlands business.

Jubilee Clips, a specialist fastener and fixing manufacturer based in Gillingham, has bought Elms Lightning Fasteners for an undisclosed sum.

Elms employs five staff in its Birmingham factory. Jubilee bought the company from SEAC which used the proceeds to move to a new headquarters near Leicester.

Jubilee, founded in 1921, said the deal was a good strategic fit. It had been dealing with Elms for some time and they were both in a similar sector.

The cut-to-fit metal banding systems that Elms manufactures fit with Jubilee’s established range of worm drive hose clips and associated clips and clamps.

The Birmingham operation will continue to trade as Elms Lightning Fasteners while the Stranglehold Banding name under which its core product is sold will also be retained.

The products are used in the heating, ventilation and sign-fixing industries.

Ian Jennings, managing director of Jubilee Clips and great-grandson of the company's founder Commander Lumley Robinson, said: “The Stranglehold system complements our existing a product line-up while Elms Lightning Fasteners is a thriving business, with some highly skilled staff.

"This acquisition gives us as an immediate 10 per cent increase in revenues, as well as access to new customers." The acquisition would add further value and growth across the business, he said.