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MBO starts new chapter at PTI

MBO starts new chapter at Precision Technologies International - SantanderCB

A management team led by entrepreneur Kevin Parkin has completed an MBO at Midlands-based engineering firm Precision Technologies International, a deal supported with funding from Finance Birmingham, Panoramic Growth Equity Management and Santander Invoice Finance. Parkin will work alongside existing technical directors Colin Palm and Patrick Walker, who have also invested in the deal, and finance director John Sandland. The company now has plans to expand into defence, nuclear and medical markets, with at least 15 new jobs expected to be created as a result of the MBO. A formal apprentice training scheme is also in the pipeline.

 

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