Investor snaps up precision engineering firm
Corby-based investor Nene Capital has bought Seeco, a precision engineering business based in Bedfordshire, in a deal supported by FRP Corporate Finance.
Seeco was formed in 1986. As part of the deal, the existing management team will remain in place for “the foreseeable future” and support Nene Capital to identify and appoint suitable successors.
Stephen Bayliss, managing director of Nene Capital said: “This has marked the culmination of what has been an extremely busy start to 2022. This recent acquisition sets out our aspiration for both pace and growth as we continue to build our high growth, high return strategies.
“Overall, we remain bullish about the UK upper SME market and our ability to continue to deliver value on a risk adjusted basis.
We are actively pursuing other acquisition opportunities to continue to execute our growth aspirations.”
Simon Stringer, finance director of Nene Capital said: “This is an exciting acquisition for Nene Capital. Seeco has built customer loyalty through a focus on quality and delivery and this has in turn established an enviable financial performance and stability. Seeco represents exactly the sort of business we are profiling for this portfolio.”
Harry Walker, Partner at FRP Corporate Finance, added: “We were pleased to find the ideal home for Seeco; Nene Capital offer the business long term and supportive ownership, while facilitating a managed transition to the next phase of the business’ growth story.”
The founders of Seeco were advised on the sale by Harry Walker and Marco Piacquadio of FRP Corporate Finance, with legal advice from Simon Parrott of Sharman’s Law.
