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 are working with the team at Astec to grow and develop the business. To date, this has included:
- Investment in new machines to increase capacity by 15%.
- Recruitment of new staff and the introduction of an apprenticeship programme (total staff numbers up 24%).
- The introduction of a new shop floor data collection system.
- A new website, rebranding and improved sales and marketing materials.
The business has recently 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.“