Poole-headquartered precision engineering specialist Venture Engineering Group has purchased Fylde CNC Specialists. Fylde is a component manufacturer for automotive brands as well as for the aerospace, medical, hydraulic and pneumatic sectors and is based in Preston, Lancashire.
Moore Blatch advised Venture Engineering Group on the acquisition which will unite five complementary engineering companies; Nu-Tech Engineering Services, Peter Day Precision Engineers, Hightown Engineering, Hiretech and now Fylde CNC Specialists.
Jeremy Over (partner, Corporate) led a multi-disciplinary team from Moore Blatch which included Hayleigh Sears (solicitor, Corporate), Chloe Hicks (solicitor, Corporate), Stephanie Bowen (solicitor, Employment), Luc Algar (partner, Commercial Property) and Rachael Kelly (solicitor, Commercial Property).
Commenting on the acquisition, Over said: “Venture Engineering Group has a vision to become a global leader in specialist precision engineering, serving some of the most demanding manufacturing industries including aerospace and automotive. Venture Engineering Group has a track record in spotting and acquiring businesses that are already leaders in their field but could maximise their opportunities by exploiting synergies across complementary companies. Moore Blatch looks forward to supporting the team at Venture Engineering Group as the business enters its next phase of growth.”
Drew Mellor, chairman, Venture Engineering Group, commented: “This acquisition further strengthens our market position. Our acquisition strategy focuses on uniting smaller engineering companies that have the passion and insight that their larger rivals may lack but these companies are often held back by a lack of finance. Jeremy Over and his team at Moore Blatch have significant experience in acquisitions of high-tech businesses and understand the importance of relationships in these types of deals. We were delighted with the first class advice they provided, which significantly contributed to the success of this deal.”