Third generation of family manufacturing business completes MBO
Manufacturing firm PCT is to transform it structure, bringing in an IT consultancy arm to the business, after a the third generation of the family business completed an MBO.
The Sheffield-based sub contract engineering company, which employs 70 and has a turnover of £6m, is to streamline its divisions under the new group name Steetley Corner Group.
Managing director James Harding-Terry bought his father Peter out of the firm. He has been running the company for the past 20 years but now takes full control.
The new Steetley Corner Group will incorporate James’ IT consultancy company, Acuma Technology. PCT’s fabrication division will re-brand to SevenHills Fabrication.
The company’s tow bar division, which designs, manufactures and sells more than 50,000 tow bars a year, will continue trading as PCT Automotive. The roll out across the business will take place in quarter one.
PCT was founded in 1926 and supplies high profile names such as Tesco and Heathrow Airport.
Last year PCT introduced double shifts to cope with strong regional demand for its sub-contract engineering services. This followed an investment of more than £550,000 in new lasers to underpin growth. Turnover increased 30% last year.
James Harding-Terry, who is the third generation of his family to run PCT, said: “This is an extremely exciting time for the family company. We are now operating as Steetley Corner Group Limited and this will strengthen our offer, and the management of the business, across all sectors and divisions.
“The business is growing across the board and the growth we’ve seen in the fabrication division is phenomenal. We’ve added extra staff and doubled the number of shifts to cope with demand. Our customers know they can access the very best advice, innovative thinking and years of experience and that’s why some of the biggest names in the UK choose us as suppliers.
“UK manufacturing has had its fair share of challenges over the years, particularly in Sheffield, but we are very optimistic about our future and the business is in a strong position to continue its 92 year journey and further cement its position as a market leader.”
