Precise Component Manufacture Limited, the March-based specialist component manufacturer, is set to embark on major expansion plan after completing a growth capital investment by Blauvelt Capital Partners, a North American private equity group. Senior credit facilities are being provided by Clydesdale Bank.
PCML was formed in 2000 and specialises in the design, precision engineering and manufacture of complex precision components and assemblies, including concept development, prototyping, and supply chain management. Located in March, Cambridgeshire, PCML works as a trusted partner with international organisations in the life sciences, scientific testing, digital printing, and semiconductor industries.
Clydesdale Bank’s Specialist and Acquisition Finance team was led by Ian Howey, Senior Director in the Midlands team and Nathan Gaunt, Relationship Director.
Ian Howey said: “We were impressed by what we saw at PCML from the outset. The enthusiasm and attention to detail of the senior management team is embedded throughout the workforce. But what really stood out was the development and investment in its own proprietary ProcureSmart software to generate cost reductions and working capital benefits for both PCML and its customers which has generated truly embedded relationships.”
Roddy Cruz, partner at Blauvelt Capital, said: “We are thrilled to be backing Gavin Goates and his entire team at PCML. They run a world-class industrial enterprise. By the same token, we are excited to be working with Clydesdale Bank and grateful for their support of PCML. Ian and his group have been consummate professionals and responsive to PCML’s needs every step of the way.”