With roots dating back to the early 1900s when it was founded as a division of engravers V Siviter Smith, Precision Micro was established in Birmingham in 1962 and was acquired by Meggitt PLC in 2012.
Operating from its state-of-the-art processing plant in Birmingham, Precision Micro manufactures more than 50 million high-precision metal components each year for major global manufacturing customers across multiple markets. Its pioneering photo-chemical etching process provides a cost-effective alternative to traditional sheet metalworking when machining precision parts from thin gauge metals.
Working to micron accuracy, its components enable next-generation aircraft engines, zero-emission vehicle technology, surgical instruments, titanium implants, a wide range of consumer electronics, safety-critical vehicle ABS braking systems and premium interior trim for brands including Rolls-Royce, Mercedes, Jaguar and Bentley.
With offices in Germany and The Netherlands, over 75% of its £15m sales come from overseas markets.
In April 2018, LDC backed the £22.5m management buyout of Precision Micro from global aerospace, defence and energy group Meggitt PLC. As part of the deal, LDC has invested £13m of equity for a significant stake in the company, supporting a management team led by current Managing Director Ian McMurray.
Ian said the investment would enable the company to take full advantage of several positive, global trends in its core markets, including the increasing preference for complex, burr and stress-free components manufactured from high-performance metals, rising quality standards, the miniaturisation of electronics and increasing demand for clean and fuel-efficient vehicles.
In September 2018 LDC’s investment in Precision Micro won ‘SME Deal of the Year’ at the Midlands Dealmaker Awards.