KBS Corporate Completes Sale of Engineering Firm With International Client Base
Precision Products (Brighton) Limited is a subcontract machinist which manufactures high quality precision turned parts for a diverse client base across the UK and overseas. The company is based in West Sussex. Precision Products was established in 1974
Precision Products (Brighton) Limited is a subcontract machinist which manufactures high quality precision turned parts for a diverse client base across the UK and overseas. The company is based in West Sussex. Precision Products was established in 1974 and has developed an excellent reputation within its sector and has sustained client relationships exceeding 20 years. The company benefits from a diverse client base including clients in aerospace, automotive, air humidifiers, brewery, electronics and water industries. Brian Owen, Graham Owen and Sally Thorley instructed KBS Corporate with the sale of their business in order to facilitate the retirement of majority shareholder Brian.
During initial discussions it became apparent that the retention of current staff was highly important to the shareholders. KBS Corporate was then able to prioritise a regional trade buyer, however some private equity potential buyers were identified. This proved highly successful and KBS Corporate was able to identify over 34 interested parties.
The successful offer came from East Sussex based Picross Engineering, who specialises in CNC services, conventional machining and ancillary services. Picross Engineering was established in 1978 and has a reputation for excellence due to strict implementation of quality control and innovative use of technology. The company produces to the ISO 9001 Quality Management standard. The acquisition of Precision Products was motivated by Picross Engineering’s growth strategy, marking their second acquisition. Precision Products will allow Picross Engineering to strength their foothold in the sector and expand their service offerings. KBS Corporate was able to ensure the retention of the workforce and allowing Precision Products expands their offerings.
Jacob Lord, KBS Corporate Deal Executive, commented on the deal: “The acquisition will provide a great boost to the service offering for the buyer and allow them to continue their expansion within the UK market, as well as providing a stronger foothold.”