Member Article

Pressmark celebrates 1-year ‘MBI’ anniversary with £2m sales boost

A Warwickshire-based metal forming specialist is celebrating a major transformation in fortunes just one year after a Management Buy-In (MBI) was completed.

Pressmark Pressings, which provides high volume components for automotive manufacturers was bought by management team Alan Gardner, John Nollett and Les Wilkins in July last year after they spotted an opportunity to turn around one of the sector’s most under recognised businesses.

Backed by their own cash injection and funding from ABN AMRO and Cambridge and Counties Bank, the trio have used their knowledge and contacts to put in place a number of new processes that has seen it secure more than £2m of additional contracts to supply pressed parts and sub-assemblies that will be used in new models for Honda and Nissan.

The Atherstone-based company has already won ‘aftermarket’ work from new customers and is currently exploring a number of projects for new products from tooling design to volume production.

This was posted in Bdaily's Members' News section by Russ Cockburn .