Dunedin Enterprise invests in Premier Hytemp

RNS Number : 5330S

Dunedin Enterprise Inv Trust PLC

03 December 2012

 

Dunedin Enterprise invests in Premier Hytemp

3rd December 2012

Dunedin Enterprise Investment Trust PLC ("Dunedin Enterprise") has, through the Dunedin Buyout Fund II, made an £8.0 million investment in Premier Hytemp Group, a global leader in the manufacture and supply chain management of quality engineered alloy components for the offshore and onshore oil and gas industry. This represents 30% of Dunedin Buyout Fund II's investment in the company. Dunedin Enterprise has a £75 million commitment to the Dunedin Buyout Fund II, 30% of the total fund size of £252.5 million. This is the final investment to be made by the Dunedin Buyout Fund II. Premier Hytemp turns over in excess of £42 million and supplies complex, high integrity machined parts on short lead times to the offshore and onshore oil and gas sector globally. The company has over 200 employees worldwide and has a very strong heritage of engineering excellence, working with nickel and low alloy steel used in critical components required for drilling and production purposes. It also operates Singapore's largest steel heat treatment facility, which is currently being expanded. The business is headquartered in Edinburgh with manufacturing facilities in Edinburgh, Sheffield and Singapore. Premier Hytemp also has operations in Calgary, Canada and will shortly open a base in Dubai. Shaun Middleton, Managing Partner of Dunedin, the manager of Dunedin Enterprise, said: "Premier Hytemp fits with Dunedin's strategy of investing in UK headquartered companies that are market leaders in their niche and which have strong international growth prospects. Commercially, Premier Hytemp is one of a few companies within its sector that has the requisite engineering skills, customer approvals, certifications and geographical reach to meet the increasingly demanding needs of this global industry." This news follows the announcement last week of Dunedin Enterprise's exit of etc.venues, the UK market leading conference and training venues business.

Enquiries

Shaun Middleton / Dunedin LLP Tel: [phone] 
Graeme Murray

 

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