Turner Parkinson’s Corporate team have completed their most recent deal, advising the multi-million pound investment of precision engineering company Astec Precision Limited by private equity firm Nevis Capital.
Astec is a specialist sub-contract manufacturer with a strong reputation that has earnt them a global customer base.
The deal was led by David Easdown, Director, supported by David Hayes, Andrew Sturge and Matthew Flanagan in the Corporate team with Property advice handled by Rachel McIlroy. David commented “This is a great example of an owner managed business gaining the support of private equity and working collaboratively. We are pleased to have supported the business as it moves to the next stage in its growth.
Managing Director of Astec, Peter Smith commented “This is the start of a new phase in the company’s growth and I’m excited at the prospect of working in partnership with Nevis to deliver it.”
Established in 2007, Nevis Capital is a leading private equity house investing across the UK in the SME market. Brian Aitken, a Partner at Nevis commented that “We believe the business has huge potential and look forward to working with Peter to help it achieve this”.
This deal is the latest for the team at TP as they continue building on from their record breaking year in 2014/2015. The team were recently ranked 3rd most active corporate legal team in the North West having worked on a number of significant deals such as APS Salads deal, JMC, Pinewood, Logson.