Birmingham-based Precision Micro, Europe’s market-leading photochemical etching company, has rebranded following its recent management buyout (MBO).
Mid-market private equity investor LDC backed the buyout from global aerospace, defence and energy group Meggitt PLC in April.
The new era for Precision Micro builds on a position of strong growth and performance is in-line with expectations with continued success in winning new business with both new and existing customers.
The new brand image will reflect the role that the business’ technology plays in creating a “better today”, enabling customers to make medical devices used in life-saving operations, components used in more fuel efficient and cleaner vehicles, and the manufacture of computer chips that facilitate modern-day communication.
Precision Micro produces more than 50 million precision metal components annually from the company’s state-of-the-art processing facility in Birmingham. The firm’s client list includes global names across a wide range of high-tech engineering sectors.
Ian McMurray, managing director of Precision Micro, said: “Following the management buyout from Meggitt earlier this year, we wanted to give the business a refreshed identity to reflect the next phase of our growth journey, and the rebrand will help us continue to pave the way as a market leader in our field with a new purpose.
“The ‘Better Today’ message reflects the vital role our components play in improving the daily lives of people around us, whether that’s someone’s life being saved in an operation to creating cleaner cities. It also reflects the commitment of the Precision Micro team from the shop floor to senior managers — to exceed customer expectations, not waiting until tomorrow to get the job done.”
Since 2002, the company has seen exponential growth, and now has offices in Germany and the Netherlands in addition to its UK headquarters. 75% of Precision Micro’s sales now come from overseas showing its stature on the world stage.
The investment from LDC will enable Precision Micro to bolster its processing capabilities, manufacturing capacity and develop new product innovation, helping the business to maintain its market leading position.
The future potential for Precision Micro is bright. The company is already the largest player in Europe, a geographical market for photochemical etching that is forecast to grow significantly in the medium to long-term. Exploiting this growth, while broadening its profile in multiple industrial sectors and across various new territories means that Precision Micro’s future under its new brand is extremely exciting.
Precision Micro partnered with Birmingham-based marketing agency Wyatt International for its rebrand. Wyatt International also worked with the company in 2002 when it changed its name to Precision Micro after acquiring an etch competitor.