Engineering technology business, Reliance Precision Limited (‘Reliance’), is pleased to announce it has partnered with a leading private equity investor, LDC, to support its next phase of strategic growth.
Reliance has built a reputation as a trusted engineering technology partner, working with leading life sciences, defence and space companies to develop and manufacture mission ready and process critical components and sub-systems for complex environments. The company, based in Huddersfield (UK) and Bandon (Ireland), is well known for its engineering expertise as well as its commitment to creating real value for its customers. Through its partnership with LDC, the business will pursue an ambitious organic growth strategy designed to enhance Reliance’s capabilities and drive customer success.
Operationally, business will continue as usual. Reliance will be managed by its existing Leadership Team, led by CEO David Jennings and supported by CFO Ian Walter. At board level, the partnership sees Martin Whittaker join as Non-Executive Chairman. Martin, an aircraft engineer by background, is the former CEO of Survitec and Mettis Group and current Non-Executive Chair of RadioComs and Drone Evolution.
David Jennings, CEO of Reliance, said: “Our number one priority has always been, and remains, providing a first-class service to our customers – we aim to be our customers’ chosen technology partner in support of their own long term growth strategies. Partnering with LDC will enable us to build an even more compelling and successful platform and accelerate the development of Gemini Works, our new product development division.”
Will Scales, Investment Director at LDC, comments: “Reliance is highly differentiated, offering a compelling combination of ultra precision design and manufacturing capability and providing a true end-to-end strategic service for its customers. We look forward to working with David, Ian and the rest of the Leadership Team to build on what they have achieved to date and positioning the business for further success.”
David concludes: “It is very important to us to preserve our culture as we take this step forward. LDC’s long standing presence in Yorkshire and extensive experience in our sector make them the ideal partner for embarking on this next chapter with us. We are excited about the future and the opportunities their investment in Reliance will bring.”
