Pre-Met Presses on with QSP Acquisition
One of the UK’s leading metal pressings and stamping specialists has set its sights on growth after sealing its latest strategic acquisition.
Pre-Met, which operates from a 50,000 sq ft factory in Redditch, has purchased nearby Quality Springs & Pressings (QSP) in a deal that will help it increase market share in the automotive, construction, environmental and transport markets.
Caption for Pre-Met Acquisition (Ext): (l-r) Steve Delaney, Martin Haywood, Lucie Long, Gerry Dunne and James Leng (all Pre-Met).
All 16 staff are being retained to take the total workforce to 60, with the transfer of production machinery and equipment to the company’s Studley Road site being completed over the next three months.
The acquisition broadens the group’s capacity to include more wire form and spring manufacturing expertise, additional presses, as well as embedding new robot and manual welding capabilities, as it looks to increase revenues toward its targeted revenue milestone of £10 million.
“This is a very important strategic move for our business and creates a host of exciting opportunities to offer our customers additional manufacturing processes and assemblies all under one roof,” explained James Leng, Managing Director of Pre-Met.
“QSP has a fantastic track record and strong client base, which was a major attraction for us, and we will only improve this through the support of our quality accreditation team, technical/design specialists and our comprehensive on-site tooling shop.”
He continued: “This is just the first deal. Over the next twelve months we’ll be embarking on an ambitious acquisition drive that will bolt on complementary manufacturing businesses that give us access to new technologies, new markets and new products.”
Operating from Redditch since 1973, Pre-Met originally made high-value pens, cufflinks and telecommunication parts, with today’s company evolving into a critical, quality-assured supplier to aerospace, mobility, medtech, construction, electrical and transport sectors, shipping its components to customers across the world.
Consistent investment in new technology and workforce development has seen it become a metal pressings and assembly specialist, offering a full product lifecycle from concept and design to prototyping and low, medium and high-volume production.
The firm can also provide a tool transfer facility for companies looking to shorten supply chains or reshore work back to the UK.
James went on to add: “QSP’s parts are relied upon by globally renowned OEMs and 1st tier suppliers with operations both in the UK and overseas. We are now looking to extend our quality assurance accreditations to support us winning new business in the EU.
“As part of the deal, Director Steve Delaney joins the Pre-Met leadership team to explore business development opportunities and strategic customer relationships. He has over 28 years’ experience in this arena and a comprehensive understanding of what clients require – this is a skill set I’m sure will be very beneficial to the group.”
Advisers to the acquisition were Higgs LLP, Kreston Reeves Accountants and Metro HR.
For further information, please visit www.metalpressingsandstampings.co.uk or follow the company across its social media channels.
