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The Kingmaker Group, a private equity firm specialising in engineering and manufacturing, has acquired two Midlands businesses supported by a £1.4m invoice discounting facility from Cynergy Business Finance (CBF).
Rowes Precision Products is a turned parts manufacturer based in Derbyshire, specialising in precision turned and machines components. It supports industry by providing a complete machining solution backed up by plating and heat treatment services to offer finished parts on time to its client base across the UK and overseas.
Plating Technologies Ltd (PTL), based in Leicester, provides high quality surface coatings for industry. Its processes includes various electroplated and lacquered coatings. PTL supplies clients who work in demanding global markets including the automotive, defence and power tool industries.
The acquisition by The Kingmaker Group sees Rowes and PTL join the firm's roster of ambitious engineering and manufacturing businesses.
The invoice discounting facility from CBF will help to provide a boost of cash flow to both businesses, enabling them to continue with their growth plans, scaling services and expanding into new territories.
Nigel Cowdery, director at The Kingmaker Group, said: “CBF have been fantastic to work with. We could speak directly with decision makers, and they understood our need to be flexible."
Dave Golding, managing director at CBF, added: "This acquisitive group has an excellent pedigree, and we are looking forward to supporting them with their future plans.”
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Cynergy Business Finance / Plating Technologies Ltd / Rowes Precision Products / The Kingmaker Group /
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