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Cash injection for Formula One supplier

Deal Secured, Precision Technologies Secure £1.2m Funding - SantanderCB

Tamworth manufacturer Precision Technologies International has secured a £1.2m funding package as part of a buy-in management buyout. The cash for the maker of precision parts for the motorsport, aerospace and oil and gas sector came from Finance Birmingham alongside Panoramic Growth Equity Management and Santander Invoice Finance. The investment will be used to allow PTI to create products for new markets such as nuclear and defence, and will lead to the creation of 15 high-skilled jobs and a number of apprenticeships. Corporate finance for the deal was provided by Castle Square Corporate Finance and Seneca.

 

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