Coventry-based Park Sheet Metal (PSM) has been bought from owner and managing director Stephen Payne by private equity group Rubicon Partners (with a loan and a revolving credit facility provided by HSBC UK).
Founded by the Payne family in 1947, PSM has established a market-leading position as a manufacturer of complex sheet-metal components for the automotive sector, with Aston Martin, Bentley, JLR and McLaren among its customers (
www.parksheetmetal.co.uk).
The acquisition aligns with Rubicon’s focus on long-term value creation through working closely with company
management to deliver growth. The PSM management team has been strengthened by the appointment of Mark Barge as CEO.
He was previously managing director of the Performance Products Division of Ricardo. Rubicon Partners and HSBC UK are
committed to developing and investing in PSM, having already signed off on additional investment to support the company’s further growth.
PSM is Rubicon’s 74th acquisition.