Specialist PE firm adds pair of East Midlands companies to its roster

UK-based private equity firm The Kingmaker Group has snapped up a pair of East Midlands companies.

The engineering and manufacturing specialist has added Rowes Precision Products and Plating Technologies Limited to its roster after securing a £1.4m invoice discounting facility from Cynergy Business Finance.

Derbyshire-based Rowes specialises in precision turned and machines components while Leicester-based PTL provides surface coatings for industrial applications.

Kingmaker said the invoice discounting facility would provide a “substantial” cash boost for both businesses, enabling them to scale their services and expand into new territories.

Nigel Cowdery, director at The Kingmaker Group, said: “CBF have been fantastic to work with. We could speak directly with decision makers, and they understood our need to be flexible. They were also able to take both our needs and the needs of the customers into account, which was really important for us. It was clear that we were working together with CBF to complete the acquisition.”

Dave Golding, managing director at CBF, added: “We are very pleased to support the growth of The Kingmaker Group with a working capital facility for Rowes and PTL. This acquisitive group has an excellent pedigree, and we are looking forward to supporting them with their future plans.”