Precision engineering business from Hinckley acquired by Woking-based company for an ‘undisclosed sum’

Mason Moore | Hinckley Reporter | 14 June 2022

A HINCKLEY-BASED precision engineering company has been acquired by a Woking-based designer and manufacturer of optical and digital instrumentation.

Paperwork being signed (Image: Unsplash)

Milturn Precision Engineering, which is located on the Dodwells Bridge Industrial Estate on Jacknell Way in Hinckley, has officially been purchased by Vision Engineering from Woking “for an undisclosed sum”.

Vision Engineering were advised to make the purchase by Azets – a ‘world leader’ in ergonomic microscopy, digital 3D visualisation, and metrology solutions.

Chris Brazier, who is based in Guildford and leads Azets Corporate Finance Team as their Corporate Finance Director, has been retained by Vision to help further advise them with their potential future acquisitions.

Vision Engineering – founded in 1958 and based in Galileo Drive, Woking – sought out the acquisition to fulfill a strategic objective of improving its global position as a leading designer and manufacturer by adding scale and capability to the their existing UK and USA manufacturing base.

Milturn Precision Engineering was established in 2001 and was one of the first UK firms to achieve the internationally recognised ISO 9001 2015 standard of quality. It has a total of 21 skilled machinists and anodisers.

They specialises in quality components, such as high performance lens cases for optical, movie and camera industries, marine and automotive engineering and high-end shop and hotel fitting, and even an anodising facility to improve the quality and durability of finished components.

Azets, the UK’s largest regional accountancy and specialist business advisor to SMEs, provided acquisition advisory support to Vision from the early stages of the deal and undertook financial and tax due diligence.

Chris Brazier, said: “We were honoured to have been able to support Vision on this transaction, building on the close relationship we have developed with the company’s leadership team over a number of years.

“I am confident that with such a good team at the helm, both Milturn and the wider Vision Group will continue to go from strength to strength.”

Mark Curtis, Chief Executive Officer for Vision Engineering, said: “The strategic acquisition of Milturn Precision Engineering strengthens Vision Engineering’s global manufacturing capability

“It improves our ability to deliver high quality precision manufactured parts, assemblies, and finished products to existing and new customers.

“It also consolidates our manufacturing services division with substantial high-end milling, turning, anodising skills and experience.”

He further added: “Chris Brazier, Ed Hulbert and the team at Azets provided us with invaluable insight into the financial history and structure of Milturn, a small, privately-owned and run 21-year-old company which manufactures highest quality components.

Mr. Curtis, concluded: “The painstaking and thorough due diligence that the Azets team carried out was critical.

“Chris and team played the leading role in negotiating the acquisition, reporting regularly to the Vision board and allowing the project to be brought to a successful conclusion.”

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