A six-figure funding package from the Royal Bank of Scotland has helped to support the acquisition of Oakdale-based Bryn Precision by Llanbradach-based JR Gilbert Engineering.
The buyout of Bryn Precision, formerly called SZ Gears, has secured six jobs and resulted in the recruitment of two new members of staff.
Founded in 1983, JR Gilbert Engineering offer precision and general engineering to a variety of industries.
With Bryn Precision, it now has the addition of a niche gear-cutting facility.
Nick Robbins, director at JR Gilbert Engineering said: “We have a very broad customer base including many blue-chip companies. The niche elements of our business such as large capacity surface grinding and now the gear cutting element of the former Bryn Precision attract a very wide audience. This enables us to provide engineering services to many other engineering companies throughout the UK and Ireland.”
Since a management buy-in 2012, directors Nick Robbins and Colin Beavis have expanded JR Gilbert significantly from employing three staff to 33. Turnover has risen from £240,000 to £1.5 million in the last five years.
Jon Field, relationship director at the Royal Bank of Scotland added: “JR Gilbert Engineering are a great local success story for South Wales and I am delighted to assist them with the completion of the acquisition.
“This is a very exciting time for the business as they reap the benefits of significant growth, having strengthened their workforce and expanded geographically.”
The company was named Small Business of the Year at last year’s Caerphilly Business Awards – an accolade the company is proud of.
Mr Robbins added: “We have made excellent progress since the management buy-in five years ago, and our investment in the business is now paying dividends.
“We are very pleased to have received the award, recognising the hard work put in by the whole workforce.”
An important factor in winning the award was the expansion of the workforce to 33 – up from 19 three years ago – as well as JR Gilbert’s apprenticeship scheme which is passing skills on to the new generation.
As well as increasing the workforce, the firm has invested £300,000 in four new CNC machines to complement the existing equipment they inherited from the original business in 2012.
Tata Steel subsidiary UK Steel Enterprise has supported the company during the 2012 Buy-In, and continues to work with them.
Mr Robbins said: “They have been great, and given us a lot of help along the way. Without them things would have been undoubtedly more difficult.”
Glyn Thomas, UK Steel Enterprise Manager in Wales said: “We were very pleased to invest in JR Gilbert when the new management team took over and we are delighted at their success.”