Rcapital sells Trac to PTC Industries
Image courtesy Trac
The sale follows a highly successful return to profitability and growth for Trac. Rcapital acquired Trac in 2022 from its previous US corporate and private equity owners following a period of underperformance and established it as an independent entity.
Rcapital worked closely with the existing management team led by Liam Bevington (above), Managing Director, to undertake a comprehensive reconfiguration of all aspects of its operations and introduce a new corporate identity to underline its newfound independence.
Rcapital also facilitated significant investment in innovation with major machinery upgrades. Over the past two years, Trac has continued to serve its blue-chip client base with best in class engineering and has secured significant new orders. As a result, the business has delivered sustainable revenue growth and profitability.
Above: Trac's head office in Crewe.
Courtesy Trac / Sam Gee Photography
Ashley Reek, Partner at Rcapital, said: "This has been a fantastic success story for both Trac and Rcapital. It is also a prime example of our growing track record in successful corporate carve-outs. We saw the potential in Trac - not just in untangling the complexities of separating it from its previous owner but in its long-term future.
“Central to this success was recognising Liam Bevington’s leadership potential within the senior team. His vision and drive to grow the business stood out, and we supported him with expert operators to navigate the challenges and deliver transformation. Today, Trac is thriving, with a clear path ahead for sustained growth.”
Liam Bevington, Managing Director of Trac Precision Solutions, said: “We are proud of what we have accomplished under Rcapital’s two-year stewardship. The team is extremely skilled at what they do and worked with us in a collaborative way to help us turn the business around, trusting our industry expertise and knowledge. Rcapital empowered us to make decisions that would help drive the business forward.”
“Now Trac is extremely well-placed for the future. It is a robust, agile and sustainable business which has the full support of its new owner, PTC Industries, who are committed to taking it to the next level.”
Rcapital has a strong track record in the aerospace, defence and precision engineering sectors with its investments in FGP, Bromford Precision Solutions, Nasmyth Group and Surface Technology International.
Rcapital was advised by Browne Jacobson LLP (Legal) and Kroll (Corporate Finance).
