Surrey firm acquires precision engineering business

A Surrey based designer and manufacturer of optical and digital instrumentation has acquired a precision engineering company in the Midlands. Vision Engineering of Woking has bought Milturn Precision Engineering, based in Hinckley, Leicestershire, for an undisclosed sum.

Mark Curtis, Vision Engineering Chief Executive Officer said, “the strategic acquisition of Milturn Precision Engineering strengthens Vision Engineering’s global manufacturing capability. It improves our ability to deliver high quality precision manufactured parts, assemblies, and finished products to existing and new customers.”

The Guildford office of top 10 accountancy firm Azets advised Vision Engineering, a world leader in ergonomic microscopy, digital 3D visualisation and metrology solutions, on the purchase.

The Azets Corporate Finance team, led by Chris Brazier, Corporate Finance Director, based in Guildford, has also been retained by Vision to advise on further potential acquisitions.

Vision Engineering, founded in 1958 and based in Galileo Drive, Send, sought the acquisition to fulfil a strategic objective of improving its global position as a leading designer and manufacturer by adding scale and capability to the company’s existing UK and USA manufacturing base.

Milturn Precision Engineering, established in 2001 and one of the first UK firms to achieve the internationally recognised ISO 9001 2015 standard of quality, has 21 skilled machinists and anodisers.

The company specialises in quality components, including high performance lens cases for the optical/movie/camera industries, marine and automotive engineering and high-end shop/hotel fitting, as well as having an anodising facility to improve the quality and durability of finished components.

Azets, the UK’s largest regional accountancy and specialist business advisor to SMEs, provided acquisition advisory support to Vision from the early stages of the deal and undertook financial and tax due diligence.

Chris Brazier said, “we were honoured to have been able to support Vision on this transaction, building on the close relationship we have developed with the company’s leadership team over a number of years.

“I am confident that with such a good team at the helm, both Milturn and the wider Vision Group will continue to go from strength to strength.”