Arrowpoint Advisory’s Industrials sector team has advised Reliance Precision Limited, a specialist precision engineering business, on securing investment from LDC, the mid-market private equity investor.
Founded in 1920 and headquartered in Huddersfield, UK with an additional site in Bandon, Ireland, Reliance is a precision engineering company which specialises in the design, development, manufacture and testing of process critical and mission ready components for complex environments that are engineered at micron levels of accuracy. Reliance partners with its global customers in the life sciences, defence and space industries from early-stage concept and prototype development through to full rate, long-term production. The business employs 240 people across the two sites.
Reliance has built a longstanding reputation for being closely aligned with its customers and operating as a trusted strategic engineering and technology partner in demanding and high growth end markets. The business is closely involved in its local community and offers four-year advanced engineering apprenticeships at its accredited onsite training facility.
LDC is backing CEO David Jennings, CFO Ian Walter, and the management team to support the business’ ambitious organic growth strategy. The partnership also sees Martin Whittaker join the board as Non-Executive Chairman. Whittaker, an aircraft engineer by background, is the former CEO of Survitec and Mettis Group and current Non-Executive Chair of RadioComs and Drone Evolution.
The transaction marks a full exit for the Selka family shareholders, who have successfully owned the business since 1955, successfully developing the business into the differentiated, global business it is today.
James Selka, shareholder and ex-Chair of Reliance RG, commented: “Tom and his excellent team from Arrowpoint Advisory did a fantastic job guiding the family though every step of the process, excellent regular concise communication, professional at all times.”
Tom Smith, Managing Director at Arrowpoint Advisory, concluded: “We are delighted to have advised Reliance Precision and its shareholders on this transaction. The business has established an outstanding reputation over many decades, underpinned by exceptional engineering capability, a diversified customer base and a strong culture of innovation. LDC's investment provides the ideal platform for the next phase of growth, and we look forward to seeing the business continue to build on its success. It has been a pleasure to work alongside the management team and shareholders to achieve this outcome.”
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