MBO takes manufacturer out of FTSE 250 group
A £22.5m management buyout has spun-out manufacturer Precision Micro from Meggitt, six years after joining the FTSE 250 group.
Private equity firm LDC has invested £13m in the deal, which was led by Precision Micro's managing director Ian McMurray.
The photo-chemical etching company generates annual sales of £15m from its sites in Erdington, Germany and the Netherlands.
It manufactures more than 50m high-precision metal components each year for major global manufacturing customers, with around 75% of its sales coming from ... For the full story register now for free or login below...