Coventry manufacturer bought by engineering investor
WEST MIDLANDS private equity firm Investx has bought Coventry manufacturer PBK Micron for an undisclosed sum.
PBK specialises in the manufacturing of precision machined parts and is an approved supplier to many top brand automotive and aerospace companies globally, including Caterpillar and Bombardier. This is the latest in a line of similar acquisitions for Investx as it looks to build a specialist engineering group.
“I’m absolutely delighted to be part of the Investx portfolio and the very exciting growth plans already prepared,” said Chris Cummiskey, managing director of PBK Micron. “Investx is not your typical investment firm as the owners are engineers at heart and have a thorough understanding of the businesses they are acquiring.”
Investx, which is based in Stratford-upon-Avon, was established to acquire and develop small to medium sized engineering, manufacturing and technology businesses operating within specialised, global niche markets.
Rob Whorrod, chief executive of Investx in Stratford-upon-Avon, said: “PBK has been a first choice supplier of precision machined components and assemblies for over 45 years now meaning their relationships with some extremely high-level customers is first-class.
“PBK’s capabilities are far reaching given the array of production equipment ranging from CNC milling, turning and grinding through to surface treatments, assembly and testing and hence we have a very solid platform for expansion into adjacent market and new territories.”
DWF advised Investx on its acquisition, led by its head of corporate in Birmingham, Mark Gibson, supported by corporate trainee solicitor Rachel Lester.
DWF previously advised Investx on the acquisition of the business and assets of Hinckley-based Advanced LED in Feburary, which will be operated as part of Waveguide Lighting. Waveguide was itself created by the purchase last December of MHA Lighting and merging it with portfolio company Lumenox.
