Springboard Corporate Finance advised LDC on the £22.5m management buy out of Precision Micro from global aerospace group Meggitt PLC.
About the deal
Precision Micro is the market leading photo-chemical etching specialist in Europe, producing over 50 million high-precision metal components each year for major global manufacturing customers across multiple markets.
Mid-market private equity investor LDC led the £22.5m management buyout from global aerospace group Meggitt PLC. As part of the deal, LDC invested £13m of equity, with HSBC committing debt facilities.
LDC was advised by Springboard with the transaction being led by Justin Sparks and Robert Johnson. Justin commented “It has been fantastic to support LDC on backing a first-rate management team to continue the great work they have done in developing an outstanding marketing leading business. The new investment will enable the management team to unlock the full potential of the substantial market opportunity.”
How we made a difference
- Provided debt advisory services resulting in optimal structure and terms of the debt facilities, ensuring ongoing commercial flexibility;
- Supported the negotiation of the terms of the transaction with by quantifying the key commercial drivers of the business; and
- Performed in depth exit review, highlighting key areas of focus for value creation
Ian McMurray, Managing Director - Precision Micro
It has been a pleasure to work with Springboard. Their professional, flexible and straight-forward approach ensured that when inevitable issues arose they were proactively and expertly resolved.