Ignite acquires NTG

This is the firm's second buy-and-build platform, according to a statement.

Prior to Ignite's investment, NTG had been owned and managed since 2008 by three shareholders, Brian Bates, Joan Graham and Charlie Sampy. Ignite's investment provides a succession plan for Bates and Graham, while Sampy remains a shareholder, director and member of the management team as head of operations. Ignite has sourced a team to work with Charlie and build on NTG's reputation. All other employees and members of the team will remain in place and continue to manage the business.

NTG's incoming management team comprise Mike Hutchinson as managing director and Douglas Dawson as chairman. Hutchinson was previously general manager of Spincraft ETG, a Newcastle-based precision engineering business making specialist metal formings. Dawson is CEO of Liberty Industry Group, the engineering division of Gupta Family Alliance, a privately owned global industrial business with $20bn in revenues.

Ignite will work closely with management to build the business both organically through ongoing investment in staff and machinery, as well as through an acquisitive strategy.

Debt for the investment, as well as the company's growth strategy, was provided by Arbuthnot Commercial Asset Based Lending through cash flow and asset-based financing.

Company
Founded in 1979, NTG is a precision engineering business based in Gateshead. It manufactures parts for use in severe duty engineering applications, in which its products operate in high temperature, high pressure or high stress environments. It employed 47 people as of 2019. 

People
Ignite Growth – Andrew Leek (partner)
Newcastle Tool & Guage – Mike Hutchinson (managing director).

Advisers
Equity – Trowers & Hamlins (legal); KPMG (corporate finance); Dow Schofield Watts (financial due diligence); Tax Advisory Partnership (tax); Armstrong Transaction Services (commercial due diligence); Usable Media (IT due diligence); Hill Coates Associates (management due diligence).
Vendor – Clive Owen (financial due diligence); Ward Hadaway (legal).
Management – Consilium (financial due diligence).

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• Buyouts
• UK / Ireland
• Industrials
• United Kingdom
• Management Buy-in