Meggitt has acquired specialist component manufacturer Precision Micro for an undisclosed sum.
Precision Micro, based in Erdington, Birmingham, manufactures specialist metal components for technology-focused organisations in a range of sectors, including aerospace, automotive and energy. The company has annual sales of around £13m and a blue-chip customer base.
Meggitt, an existing customer of Precision Micro, specialises in extreme-environment components and smart subsystems for the civil aerospace, military and energy markets.
Mid-market corporate finance house Clearwater advised the shareholders of Precision Micro in the deal and a team from the Birmingham offices of Eversheds provided legal advice.