Martin Precision acquired by Sweden’s Evity Invest – Daily Business

Founder William Martin

Engineering firm Martin Precision, a long-established Scottish supplier to the global aerospace, medical and energy sectors, has been acquired by a Swedish firm.

The acquisition by Evity Invest will help employee-owned Martin Precision’s growth at its site in Lanark, drive the development of new technologies and safeguard the future of its workforce.

Martin Precision, whose customers include Rolls-Royce Aerospace, can trace its roots to the 1880s, and the Martin name has a long association with engineering in the Lanark area. 

Consilium Chartered Accountants advised the Martin Precision Employee Ownership Trust.

The deal continues a long-standing relationship between Martin Precision and Consilium which previously advised on its transition to an Employee Ownership Trust (EOT) in 2023.

Allan Caldwell, chairman of Martin Precision EOT, said: “As trustees, our responsibility is to act in the long-term interests of our employee beneficiaries, and we believe this transaction represents a positive outcome for the business and its people.”

Consilium’s Linzi Wilson said: “Bringing Evity into the UK market has been tremendously exciting and satisfying. Their investment will generate exceptional benefits for all parties and provide a catalyst for the next phase of growth for Martin Precision, as well as safeguarding its continued legacy in Lanarkshire.”

Evity UK managing director Philip Lofgren said: “Consilium’s pragmatic and grounded approach, coupled with their transparency throughout the process, made them a valued partner in this milestone transaction for Evity.”

“Martin Precision represents an ideal first investment in the UK, having demonstrated the strength and resilience of their business model over many years. As a long-term and committed owner, we take great confidence in their promising growth prospects. Under our decentralised management model, we will continue to support the existing leadership team and employees in scaling the business to its next stage of development.”

Martin Precision was advised on legal matters by Bellwether Green. Evity Invest AB was advised by Delphi, Addleshaw Goddard, and KPMG Stockholm.

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