Manufacturer kickstarts ambitious expansion plan with acquisition

Metal pressings and stamping specialist Pre-Met has acquired Quality Springs & Pressings (QSP) in a deal that kickstarts an ambitious acquisition drive.

All 16 staff are being retained to take the total workforce to 60, with the transfer of production machinery and equipment to the company’s 50,000 sq ft site in Redditch being completed over the next three months.

QSP boosts Pre-Met’s capacity to include more wire form and spring manufacturing expertise, additional presses, as well as embedding new robot and manual welding capabilities, as it looks to increase revenues toward its targeted revenue milestone of £10m.

The wider group will have an increased market share in the automotive, construction, environmental and transport markets.

As part of the deal, director Steve Delaney joins the Pre-Met leadership team to explore business development opportunities and strategic customer relationships.

James Leng, managing director of Pre-Met said: “This is a very important strategic move for our business and creates a host of exciting opportunities to offer our customers additional manufacturing processes and assemblies all under one roof.

“QSP has a fantastic track record and strong client base, which was a major attraction for us, and we will only improve this through the support of our quality accreditation team, technical/design specialists and our comprehensive on-site tooling shop.

“This is just the first deal. Over the next twelve months we’ll be embarking on an ambitious acquisition drive that will bolt on complementary manufacturing businesses that give us access to new technologies, new markets and new products.

“QSP’s parts are relied upon by globally renowned OEMs and 1st tier suppliers with operations both in the UK and overseas. We are now looking to extend our quality assurance accreditations to support us winning new business in the EU.”

Advisers to the acquisition were Higgs LLP, Kreston Reeves Accountants and Metro HR.