We have advised private equity investor LDC on its investment in Rolls-Royce and Jaguar Land Rover supplier, Precision Micro as part of the £22.5m management buyout (MBO) of the firm by global aerospace, defence and energy group Meggitt PLC.
LDC invested £13m of equity for a significant stake in the company, supporting a management team led by current managing director Ian McMurray.
Precision Micro is one of the world’s few production photo etching specialists, producing more than 50 million components each year for industry-leading names, including Rolls-Royce, Mercedes, Jaguar and Bentley.
Our team, led by Corporate partner Simon Gill, comprised, partner Andrew Cowan, solicitor Ruary Smith and qualifying paralegal Olivia Johnson (Corporate), partner Colin Gittus and associate Alexander Parkes (Real Estate), partner Andrew Madden and trainee solicitor Jamie Gillespie (Banking & Finance), legal director Kirstin Roberts and solicitor Pardeep Lagha (CTM), legal director Clive Day, solicitor Helen Webster and trainee solicitor Natasha Dawe (Employment), partner James Gopsill and solicitors Jo Symes and David Williams (Tax), solicitor Paul Wild (Pensions) and the Regulatory team.
Simon commented: “I am delighted that we were able to advise LDC on this investment. The deal will enable Precision Micro to develop its capabilities further and I wish the team all the best.”