LDC acquires Precision Micro in £22.5m MBO

Under the GP's tenure, the business will invest in its processing capabilities, manufacturing capacity and product development. The company is looking to capitalise on growing demand for burr- and stress-free high-performance metal components; rising quality standards; the miniaturisation of electronics; and low-emission vehicles.

As part of the deal, LDC investment director Chris Handy will take a seat on the board as a non-executive director. The GP has also introduced Dave Johnson – formerly of Lucas, BTR and Dunlop Aerospace – as non-executive chairperson.

HSBC provided banking facilities to support the transaction.

Company
Founded in 1962 and headquartered in Erdington, near Birmingham, Precision Micro is a photochemical etching company. It manufactures high-precision metal components for a broad range of applications, including the manufacturing of aircraft engines, zero-emission vehicles, surgical instruments, titanium implants, consumer electronics and ABS braking systems. Its clients include Rolls-Royce, Mercedes-Benz, Jaguar and Bentley.

The company generates a turnover of £15m, according to a statement, with 75% accounted for by international sales. It has additional operations in Germany and the Netherlands.

People
LDC – Chris Handy (investment director).
Precision Micro – Ian McMurray (managing director).

Advisers
Equity – Gateley (legal); BDO (corporate finance); Springboard Corporate Finance (corporate finance).
Management – Freeths (legal); Cattaneo (corporate finance).

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