Crewe-based Trac Precision Machining has been acquired by private investor Rcapital from Chromalloy Gas Turbine LLC, part of Sequa Corporation.
Trac is a key supplier of precision engineered parts to the aerospace, defence and power generation sectors, with major customers including Rolls Royce, Siemens, GE and Safran.
Rcapital is an experienced investor in the engineering sector, having invested in specialist engineering business, Nasmyth Group, earlier this year and has a successful track record of over 75 acquisitions and exits from its portfolio.
Brian Costa, President of Chromalloy commented: “Trac Precision Machining has been acquired by Rcapital as Chromalloy focuses on the aerospace, energy, and defence aftermarket business sectors and the unique value proposition of our proprietary LifeX solutions. We are pleased to have found a strategic investor who will provide a good home for the Trac business, and we wish everyone at Crewe and Rcapital all the best for the future.”
Liam Bevington, Managing Director at Trac Precision Machining added: “The acquisition of Trac Precision Machining by Rcapital provides the opportunity to further develop and grow the business. The team at Rcapital has the expertise to help us build on the strong foundations and ensure the business has an even brighter future.”
Lewis Burnham, investment manager at Rcapital said: “Trac Precision Machining is a profitable business and a significant employer in the region with an enviable blue-chip client base. It is extremely well placed to benefit from the recovery in global air passenger numbers and the need for energy and aerospace operators to reduce emissions and improve efficiencies across their platforms. This presents exciting growth opportunities for Trac to utilise their engineering expertise.”
Rcapital was advised by Pinsent Masons LLP and Chromalloy was advised on the acquisition by Alantra and Cripps LLP.