Fylde CNC sold to Venture Engineering Group
The Kirkham firm employs 30 and is a sub-contract precision CNC machining company that manufactures high quality components for original equipment manufacturers (OEMs) and suppliers in a range of sectors including automotive, pneumatics and hydraulics.
The purchase is the first in the north for the Poole-based Venture Engineering Group, which is growing through acquisition.Following the sale, shareholder David Norcross will continue working at the business.
RSM’s team, led by corporate finance partner John Daly with support from Helen Gibson, advised the shareholders of Fylde CNC.A team from regional law firm Napthens including corporate partner Richard Robinson, corporate solicitors David Carr and Charlotte Thornley, employment partner Oliver McCann and commercial property partner Paul Hardy acted as legal advisors.
John Daly, corporate finance partner at RSM, said: ‘The shareholders have built up a successful business with a state-of-the-art facility which is described by the industry as ‘world class’."The deal enhances the wider group and supports the shareholder aims; and we’re pleased to have been able to support the business on the next stage of its development." Richard Robinson of Napthens added: ‘We are delighted to have worked with the shareholders and RSM on the transaction to deliver a deal which allows the company to continue to grow under new ownership and build on the success it has enjoyed under the previous owners."