NEWCASTLE TOOL & GAUGE
NTG is a precision engineering business based in Gateshead. It manufactures low volume, high value components for use in Severe Duty Engineering Applications: where its products operate in high temperature, high pressure or high stress environments.
NTG’s end customers are in a diversified set of end markets including oil & gas, power generation, food packaging, subsea and defence. Amongst its customers are global leaders in their industries, e.g. Siemens, Baker Hughes and Halliburton.
We identified NTG as an exciting investment with a great reputation amongst its customer base, an opportunity to add business development skills to its operational excellence. NTG is a very strong platform for a buy and build programme in the precision engineering sector, and we have the capital to execute on this strategy.
The transaction was a retirement sale for 2 of the 3 previous shareholders. with the third shareholder remaining in the business as Head of Operations. As part of the transaction we have sourced an incredibly experienced incoming management team who will be working with the remaining vendor to manage the business.
NTG demonstrates all of the value add which Ignite can bring to bear:
- Ambitious capital for a buy and build strategy
- Working with vendors on management succession
- Refining strategy
- Building business development capability; and
- Investing into people and business culture.
We invested in NTG in December 2020.