Group News
Purchaser secured for world class aerospace company
Mike Dillon and Steve Muncaster from Leonard Curtis were appointed as Joint Administrators to aerospace parts manufacturer North West Precision Limited on 14th May 26 and have successfully concluded its sale, preserving roles for employees.
The 48-year-old company manufactures and supplies high-grade aerospace parts from five purpose-built sites, four in Birkenhead and one in Dorset.
It has been purchased by Sovereign Precision Limited, part of Sovereign Industrial Group, based in the West Midlands.
The Group specialises in lightweight structures, air management systems, engine components, and battery cooling solutions, all aimed at advancing sustainable mobility.
Mike Dillon commented: “The company had been struggling with increased material costs, import fees, rates and utilities as well as delays in payments from its customers which put it under intense pressure.
“We are pleased to have secured a quick sale preserving roles and maintaining services to its customers.”
These include Airbus, GE Aerospace, Textron and BAE Systems. The company is a Tier-1 supplier to Airbus, supplying precision components.
There were 23 expressions of unconnected interest in the purchase. “This was a fundamentally strong business in need of a reset,” Mike Dillon added.
Sovereign’s chairman, Steve Norris, said: “North West Precision is a business with an exceptional heritage, outstanding people and genuine world class capability in precision aerospace manufacturing.
“We are acquiring this business because we believe in it – and because we are committed to building a platform that gives UK aerospace and automotive OEMs (original equipment makers) a single, highly capable UK supply chain partner.”
He added: “This is exactly the kind of acquisition that fits our strategy: a great business, in the right sector, with the right team, that just needs investment and the right ownership to fulfil its potential.”
Miles Tudor, founder of North West Precision, said: “We are delighted to secure the long-term future for the business and for it to become part of a large and well-established group of companies with extensive experience in operational excellence and business growth.”
Sovereign was advised by Hill Dickinson. The Joint Administrators were advised by Shoosmiths. Cynergy Business Finance is providing the facilities to support the acquisition.
Feedback Form
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Donec ultricies consequat.
News and insights
Get in touch
with Leonard Curtis
Forward
with purpose
Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.