D.R.B. Engineering Limited
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As a highly regarded and well respected provider of comprehensive metal pressing, manufacturing and toolmaking services with a turnover of £6 million, DRB Holdings has extensive experience as a tier 1 supplier to consumer electronics and industrial products manufacturers. The company serves a high end, blue chip customer base, boasting developed relationships with Xpeliar, Redring, Baxi and Panasonic. The business also has tier 2 supplier relationships in the automotive industry, providing a service for Nissan, Toyota, Jaguar, Land Rover and Bentley.
Acquirers Walsall Pressings generate an annual turnover in excess of £33 million and specialise in the design, development and manufacture of technical metal presswork, robotic welding and mechanical assemblies for customers spanning a diverse range of market sectors including automotive, communications and domestic appliances.
A major customer of DRB Holdings, Walsall Pressings initially approached KBS Corporate and were able to fund complete the deal in a straightforward transaction with a small additional dividend payable to the exiting directors given certain conditions being met.
There was an immediate and significant interest in DRB meaning that a competitive bidding process was able to be launched within three months of going to market. Given the established and successful relationship between Walsall Pressings and DRB Holdings, the deal was always the most obvious conclusion despite other respectable bids.