Precision Engineering Group

Precision Engineering Group announces its first acquisition, Clayton Engineering

Precision has been formed by a buy-in team, Ian Watson, Michael Cox and Marco Gandini to be a vehicle for the acquisition of independent precision engineering businesses. The intention is to build the group to critical mass and to effect an attractive exit to investors.

Ian Watson said: "Clayton fits perfectly with our acquisition criteria. It appears, however, that there is no shortage of appropriate acquisition targets and we look forward to accelerating our acquisition rate as 2000 progresses. We already have 5 other companies in active negotiation."

Mark Ledger-Beadell who advises Precision on acquisition strategy and structuring finance for the growth of the group, said: “I believe Ian and the team have identified a niche business area that has been overlooked in terms of the opportunity to increase shareholder value by the application of large company systems and procedures to niche independent businesses. As the group grows it will generate funds to augment outside investor capital to make acquisitions."

Advisers

Mark Ledger-Beadell, Meta Corporate Finance

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