Advising on a successful sale for Blauvelt Capital

We have advised Blauvelt Capital and the other shareholders on the sale of precision engineering and biotech manufacturing business Precise Component Manufacture Limited (PCML) to funds managed by Total Capital Partners LLP.

PCML has been acquired by Total Capital Partners who are providing a complete equity and debt funding package to back the business and facilitate the exit of the retiring shareholders.

Total Capital Partners is providing £17 million of equity and debt and will take an 85 per cent equity stake in the business.

We acted for Blauvelt Capital on the original buyout in 2013 and for the PCML group on two subsequent bolt-on acquisitions in 2017 and 2018.

Private equity partner James Goold commented: "We have a long-standing relationship with Blauvelt Capital, having advised on the original acquisition of PCML and subsequent transactions. PCML is a highly evolved business and an attractive proposition. This is a great deal for all concerned and I am pleased we were able to continue to work with Blauvelt and the other sellers on a successful outcome."

Roddy Cruz, managing partner at Blauvelt Capital, said: "PCML is a unique manufacturing asset and is well placed to continue to grow further with its new backers. Taylor Wessing has been a long-standing partner to us in the past and James, Suzy and the rest of their team provided invaluable support and strategic insight throughout the deal."

The deal with lead by private equity partner James Goold with the support of private equity senior associate Suzy Penney and private equity associate Sarah Wallace.

Tax support was provided by partner Liz Wilson, financing support from Katie Horbury, with partner Michael Helfgott and senior associate Daniel Wigman advising on real estate aspects of the deal.

Commercial technology and data partner Sian Skelton and employment associate Nadine Simpson-Ataha also acted on this deal.

This marks the culmination of another transaction for our Private Equity team who have successfully completed over 10 deals in the past month. The team continues to support our Private Equity client base in what is turning out to be one of the busiest periods for transactions in recent times.