PTC Industries Limited successfully completed the acquisition of Trac Precision Solutions Limited (TPSL), a UK-based precision engineering firm, on December 19, 2024.
This acquisition includes four target entities: Trac Holdings Limited, Broomco (4266) Limited, Trac Group Limited, and TPSL. Among these, TPSL stands out as an operational company specializing in designing and manufacturing precision-engineered components for aviation, defense, and power generation markets, generating a turnover of GBP 24.76 million in FY 2024.
Key Highlights:
- Acquisition Scope:
- PTC acquired 100% of four target entities: Trac Holdings Limited, Broomco (4266) Limited, Trac Group Limited, and Trac Precision Solutions Limited.
- TPSL, the key operating company, reported a turnover of GBP 24.76 million for FY 2024.
- Strategic Objectives:
- This acquisition aligns with PTC’s growth strategy, enhancing its capabilities in high-precision component design and manufacturing.
- The deal is expected to create operational synergies and expand PTC’s global footprint.
- Regulatory Approvals:
- The acquisition received approval under the UK’s National Security and Investment Act 2021.
- Financials and Structure:
- The acquisition was structured as a cash transaction in multiple tranches.
- Detailed financial terms remain confidential.
- Completion Timeline:
- Initially scheduled for January 2025, the acquisition was finalized ahead of schedule on December 19, 2024.
This acquisition marks a significant milestone for PTC Industries, solidifying its position as a global leader in precision engineering.
TOPICS:
PTC Industries