VIALEX was delighted to act for Panoramic Growth Equity in respect of their £2.2m investment in Gearing Up Limited, the holding company of Precision Technologies International Limited, which completed in December 2015. The transaction was structured as a buy-in management buyout (BIMBO) and included additional finance from existing and new management, Finance Birmingham and Santander.
PTI is based in the Midlands and has more than 50 years of experience in the manufacture of specialist precision parts across a range of sectors including Formula One, medical, oil and gas and aerospace. The funding will see the group increase its current offering and develop to enter new markets such as nuclear and defence. The new management team will be led by experienced entrepreneur Kevin Parkin.
The VIALEX team, led by Paul Jarman-Williams, provided specialist advice on all aspects of the equity and debt financing and the acquisition terms.