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Kreston Reeves has advised Pre-Met Limited on its acquisition of Quality Springs and Pressings.
Pre-Met is one of the UK’s leading metal and stamping specialists. Founded in 1973, the company originally made high-value pens, cufflinks and telecoms parts.
It is now a “critical, quality-assured” supplier to the aerospace, mobility, medtech, construction, electrical and transport sectors across the world.
Quality Springs and Pressings has supplied precision parts to the automotive, rail, electrical and construction industries for over 60 years.
Kreston Reeves provided strategic planning and transaction advice on the acquisition, including a detailed financial review, company valuation, deal structure and taxation advice on stamp duty, VAT and capital gains tax.
The Kreston Reeves team was led by senior partner Andrew Griggs, with tax advice from VAT director Nick Dawe and corporate tax senior manager Mohammed Mujtaba.
Griggs said: “We are delighted to have worked alongside the Pre-Met team on this acquisition. The company is ambitious for growth with Kreston Reeves guiding it on its journey over 30 years. We pride ourselves on the relationships we build with our clients, guiding them to a brighter future.”
James Leng, managing director of Pre-Met Limited, said: “We have enjoyed a long relationship with Kreston Reeves that has been built on trust and high-quality advisory support. During this time, the firm has provided a range of services from general accounting, audit and tax guidance to, more recently, transactional and strategic planning.
“Andrew Griggs and the Kreston Reeves team are attentive and thoughtful and have been adept in proactively flexing their services to match our business’ evolving challenges. In its tailored approach, Kreston Reeves has enabled Pre-Met to cut costs, improve corporate financial practices and employ creative acquisitive deal structures to enhance our future growth ambition.”
He added: “The Quality Springs and Pressings acquisition is a strategic move for our business and creates a host of exciting opportunities to offer our customers additional manufacturing processes and assemblies all under one roof.
“It has a fantastic track record and strong client base, which was a major attraction for us, and we will only improve this through the support of our quality accreditation team, technical/design specialists and our comprehensive on-site tooling shop.”
