Huddersfield-based precision engineer Reliance Precision, which also runs a manufacturing site in Bandon, Co. Cork, has secured private equity backing from LDC to accelerate its growth after a year of higher sales, profit and orders.

LDC is backing chief executive David Jennings, finance director Ian Walter and the management team to pursue organic growth, including expansion of the Gemini Works new product development capability.

For the year to 31 March 2026, sales rose 3 per cent to £31.1 million from £30.2 million, and operating profit increased to £1.8 million from £1.6 million. Gross margin improved to 22 per cent from 20 per cent.

The order book grew by almost a quarter to £36.3 million from £29.6 million, with order intake climbing to £37.5 million from £30 million. Export sales made up 52 per cent of revenue, up from 46 per cent, and the company ended March with cash of £3.6 million after a net cash inflow of £1.1 million.

Founded in 1920, Reliance designs, develops, manufactures and tests precision-engineered components for complex environments, working with global customers in the life sciences, defence and space sectors. Its Bandon site has operated since 1970, and the business employs about 240 people across its UK and Irish sites.

Its work runs from early-stage concept and prototype development through to full-rate, long-term production, and new technology is developed in Gemini Works before moving to full-scale production. The vertically integrated operations provide manufacturing capacity and access to European markets.

Jennings said: “Partnering with LDC will enable us to build an even more compelling and successful platform and accelerate the development of our Gemini Works new product development capabilities.” Jennings added: “Our number one priority has always been, and remains, providing a first-class service to our customers.”

LDC investment director Will Scales, who led the investment, said: “Reliance is highly differentiated, offering a compelling combination of ultra precision design and manufacturing capability and providing a true end-to-end strategic service for its customers.”

The structural driver is customer demand for precision-engineered components in life sciences, defence and space, backed by £700,000 of fixed asset investment this year and further spend planned. For the sector, the deal supports organic growth across Huddersfield and Bandon.

Source: thebusinessdesk.com / relianceprecision.ie / reliance.co.uk