Buy-out keeps gear firm in the family

Cory Hopwood and sister Louise Spate: running their company

A BROTHER and sister have ensured a firm remains in the family’s hands - after taking over their father’s half of the business.

Hopwood Gear Ltd is now owned by Cory Hopwood and Louise Spate following their purchase of the half of the share capital of their father, Nick.

Originally from Royton but now living in Cleveleys, Nick Hopwood founded the precision engineering business in 1974 with Alan Hopkinson. Mr Hopkinson retired in 2001 and sold his half-share to the Hopwoods in 2009.

With the imminent retirement of Nick, managing director Cory, from Uppermill and company secretary Louise, from Chadderton, have ensured the business will stay in family hands.

Nick said: “Obviously this is an important day for everyone. This has always been a family business and Louise and myself are determined to continue the success started by our father and Alan Hopkinson.”

Hopwood Gear, of Mossdown Road, Royton since 1988, was originally Hopkinson and Hopwood Ltd and renamed in 2009.

The company has 34 employees and designs and manufactures gears for everything from biscuit-makers to the oil industry.

Exports currently account for 20 per cent of turnover, a figure Nick hopes to boost in the next few years as he tries to break into the lucrative but challenging North American market.