Business development during Nevis ownership
- In 2015, Nevis acquired a majority stake in Astec Precision from founder and owner Peter Smith. Peter was looking to realise some of the value that he had created in the business and for support to help the business grow.
- We have worked with the team at Astec to develop the business. To date, this has included:
- Achievement of the AS9100 accreditation – the global quality standard for aerospace manufacturing.
- Investment in new machines and automated technologies to increase capacity by 25%.
- Transition to a broader management team and structure.
- Recruitment of new staff and establishment of an apprenticeship programme (total staff numbers up more than 100%).
- The introduction of a new shop floor data collection system.
- A move to a new facility which increased our manufacturing space from 8,000 to 28,000 sq ft, providing us with the capacity to grow.
- New sales and marketing focus including website and rebranding.
The business has secured accreditation to AS9100, the global quality standard for Aerospace manufacturing, as we look to increase sales to this market.
Peter Smith, Managing Director of Astec Precision, commented:
“Nevis were straight-forward and easy to deal with over the course of the deal – they did what they said they would when they said they would. They’ve supported me and the team with investment and advice as we look to grow the business further.”