The Precision Technology Group has acquired Orpington-based SP Gears, which provides products for clients across the valve, nuclear, rail, marine, and automotive industries. The company has nuclear accreditation, enabling it to service customers in the nuclear new build and refurbishment sectors.
The Precision Technology Group (PT Group) specializes in creating innovative technology for motion with manufacturing, service, and supply businesses located in the USA, Great Britain, and Australia. With the acquisition of SP Gears, the PT Group now comprises four companies: Precision Technology USA Inc, manufacturer and supplier of industrial and defense high performance electro-mechanical actuators; Hypac Pty Ltd, an Australian manufacturer of hydraulics systems used in marine applications, including a unique range of lightweight deck machinery for fast commercial and leisure vessels, and of presses used in wine production and other commercial applications; and Seaway Powell Marine Ltd, the British-based designer and manufacturer of hydraulic equipment and deck gear for sailboats, powerboats, super-yachts, and commercial craft.
Commenting on the acquisition, Chris Oswald, who heads up the PT Group, said: “We are delighted that we have concluded the successful purchase of SP Gears as this brings outstanding high quality gear manufacturing expertise into the PT Group. SP Gears’ products and services will complement the specialist and innovative skills available from our other Group companies, enabling the sharing of engineering, design, manufacturing, supply, and service to enhance our customer offering across our core markets in marine and automation.”
SP Gears has significant growth potential in several rapidly expanding markets. All existing staff are staying on with the business, including managing director Greg Jenkins, who will be a leading figure in our growth plans over the next few years. The PT Group is achieving growth of around 40% a year and SP Gears will be a key contributor to the future. For more information, visit www.pt-usa.net.
