RSM and Napthens advise on disposal of Preston precision manufacturer

John Daly

RSM and Napthens have advised on the sale of a precision manufacturer, Fylde CNC, to Cheltenham-based Venture Engineering Group.

Preston-based Fylde CNC is a sub-contract precision CNC (computer numerical control) machining company that manufactures high quality components for original equipment manufacturers (OEMs) and suppliers in a range of sectors including automotive, pneumatics and hydraulics.

The company employs around 30 staff at its cutting-edge facility in Kirkham. Shareholder David Norcross will continue working at the business.

The deal, for an undisclosed sum, brings together two complementary businesses – enhancing the national engineering offering by securing the first Northern hub for the acquisitive group.

RSM’s team, led by corporate finance partner John Daly with support from Helen Gibson, advised the shareholders of Fylde CNC.

A team from regional law firm Napthens, including corporate partner Richard Robinson, corporate solicitors David Carr and Charlotte Thornley, employment partner Oliver McCann and commercial property partner Paul Hardy, acted as legal advisors.

John Daly said: “The shareholders have built up a successful business with a state-of-the-art facility which is described by the industry as ‘world class’.

“The deal enhances the wider group and supports the shareholder aims, and we’re pleased to have been able to support the business on the next stage of its development.”

Richard Robinson said: “We are delighted to have worked with the shareholders and RSM on the transaction to deliver a deal which allows the company to continue to grow under new ownership and build on the success it has enjoyed under the previous owners.”

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