PMSI supports Reliance in securing investment from LDC
Yorkshire based engineering technology business, Reliance Precision (Reliance), has partnered with LDC, part of Lloyds Banking Group, to support its next phase of growth.
Founded in 1920 and headquartered in Huddersfield 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 c.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.
PMSI provided VCDD to support the transaction. PMSI’s work addressed key investment themes including: an assessment of Reliance’s market positioning and competitive landscape; analysis of the size, growth and demand drivers across Reliance’s life sciences, defence and space end-markets; and a comprehensive customer referencing programme.
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