Thu, 15 Jan 2015 | DIVISION SALE
NVM Private Equity has sold its stake in a clay pigeon firm based in the north west of England.
The senior management team at Promatic, the clay pigeon shooting target maker, completed the sale in conjunction with a Corby-headquartered manufacturer and distributor of clay pigeon targets, CCI International, in an MBO. The sale was agreed at twice NVM's original investment.
NVM originally purchased the stake in Promatic in 2007 in order to support its MBO and boost the firm's ability to leverage its own brand.
Promatic employs 55 people at its Hooton, Cheshire headquarters along with another 15 people at Gower in Missouri in the US. Operating for 25 years, it reported sales of £7.2 million in the year to December, 2013. The partnership with CCI will now see a 'one-stop shop' created for customers in terms of products and services, it was confirmed.
Promatic chief executive, Brian Jardine, said: "We look forward to expanding our market worldwide utilising the synergies of the different products of both companies. This is a fantastic opportunity to better serve the clay shooting industry with quality clay traps, clay targets and other shooting equipment.
"Combining the experience of Promatic and CCI, we can better equip the industry with quality and innovative products that will meet the needs of customers and shooters alike.”
The clay and live quarry shooting industry is worth around £2 billion a year to the UK economy.
_____________________________________________________________
Related information:
Acquisition finance
Offered for sale is a highly regarded firm of commercial building consultants and surveyors, dedicated to providing expert advice and guidance in order to maximise the value of clients’ building assets.
The company designs, manufactures, installs, and maintains bespoke dust control equipment across the UK. Priding itself on its extensive in-house knowledge, the company provides a full range of filters, fans, and ducting, as well as offering annual C...
This business is a true powerhouse, offering customers everything they need to achieve their desired spaces in one convenient place. Whether they’re undertaking a full-scale renovation or searching for that perfect finishing touch, the solutions offe...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.