PRV Engineering (PRV), one of the UK’s leading precision engineering manufacturers, has been sold to CorpAcq.
Under the leadership of managing director Simon Jones, who joined PRV in 1998 and acquired the business in 2008, PRV has built a comprehensive ‘one-stop shop’ for high specification engineering and fabrication solutions across both design and manufacturing.
Supplying sectors such as defence, rail, power generation and distribution, PRV has achieved consistent year-on-year growth, supported by 65 staff, benefitting from significant investment in state-of-the-art CNC manufacturing equipment and long-standing partnerships with blue-chip clients including General Dynamics, Network Rail and Brush Switchgear.
Gambit Corporate Finance acted as lead advisor to the shareholders of PRV on initiating, negotiating and structuring the transaction. The Gambit team comprised Frank Holmes (Partner), Kate Jones (Manager) and Sean David (Executive).
Frank Holmes, Partner, said:
“Over the past 27 years, Simon and the PRV team have built a market-leading precision engineering business, recognised for applying technical value-add engineering solutions to enhance customer precision components and complex fabrications in a wide range of materials. We are delighted to have advised the shareholders on this transaction in the knowledge that the business is positioned for significant sustainable growth.”
Simon Jones said:
“The transaction represents a significant milestone for the business and will enable PRV to continue our expansion trajectory and better serve our customer base. I would like to thank the team at Gambit for their role in sourcing, advising, negotiating and executing the transaction. Their commercial experience and guidance throughout delivered a robust succession plan roadmap for the Company, its employees and other stakeholders.”
Blake Morgan provided legal advice to the shareholders and its team was led by James Williams and Zoe Groves.
Accountancy support was provided by MHA and its team was led by James Dobson.
