Wed, 10 Jul 2019 | BUSINESS SALE
Park Sheet Metal Company (PSM) has been taken over by investment giant Rubicon Partners in its 74th acquisition deal in more than 25 years of experience and operations.
The manufacturing firm, headquartered in Coventry with roughly 250 members of staff across its five sites, and one that provides services to clients like Aston Martin, Bentley, and Jaguar Land Rover, was best known for its development of components used in prototype and production assemblies.
EY’s Birmingham corporate finance team advised PSM on the deal and sale to London-based Rubicon Partners.
PSM’s most recent accounts on Companies House revealed a turnover of £12.2 million in the year ending 31 January 2018, and a pre-tax profit of £781,000.
Mark Barge, previously the managing director of Rubicon Partners’ performance products division of Ricardo, has been appointed as PSM’s new chief executive.
The previous owner of PSM, and current managing director, Stephen Payne, said: “Rubicon Partners are committed to further developing and investing in PSM, having already signed off on additional plant, equipment and facilities to support planned growth. I would like to thank the EY team for all their support and advice.”
Anthony Edwards from EY’s Midlands Mergers & Acquisitions division, added: “PSM has a rich heritage of partnering with some of the UK’s leading automotive manufacturers.
“EY have worked hard to find the right buyer for the business and in Rubicon Partners have found an investor with extensive experience and a strong commitment to develop and invest in the future.”
For more news stories about acquisitions, click here. For all our business for sale listings, click here.
Well established business has traded online since 2010, as a leading manufacturer and supplier of plain and printed polythene protective packaging products. The current management and key personnel have over 40 years’ experience of manufacturing and...
LEASEHOLD
This well established manufacturer of uniform fabrics has been selling there products around the globe. The business was set up by the current owner and his father. The business offers both the manufacture of fabrics and production of niche garments...
LEASEHOLD
Blue Chip Client Base. Full Range of Display Systems. Limited Industry Competitors. Solid Platform for Growth. Offers invited.
LEASEHOLD
|
17
|
|
Sep
|
Impact REIT snaps up Suffolk-based Cardinal Healthcare business | BUSINESS SALE
Impact REIT has successfully acquired Cardinal Healthcare, a...
|
16
|
|
Sep
|
Cheshire-based SRL Traffic Systems completes MBO | MBO/MBI
SRL Traffic Systems, a manufacturer and supplier of portable...
|
13
|
|
Sep
|
AFH Financial Group acquires two firms for £7.2 million | BUSINESS SALE
AFH Financial Group, a listed wealth management firm headqua...
Sign up to receive our acquisition alert emails to get your FREE guide
|
16
|
|
Jul
|
Farsound Aviation sold to AGIC for £115 million | BUSINESS SALE
A supply chain management company operating in the aviation ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources