New owners for Priden Engineering 11 April 2018

Priden Engineering has been acquired by Elaghmore Partners, a private equity firm, for an undisclosed “multi-million pound” sum.

Wisbech-based Priden manufactures aluminium and stainless steel products for commercial vehicles, as well as for the food sector.

The business has four factories situated on the four-acre site and a 100-strong workforce. Priden’s management team will remain with the business.

Elaghmore says it will provide the financial backing to grow Priden into “a national business in the total vehicle solution market”.

Priden will remain an independent company but will benefit from links with another Elaghmore acquisition, made in December 2016, of SB Components. Since its acquisition, the bespoke component maker has grown significantly and is said to be on track for record sales and profitability this year.

The combined Priden and SB Components business will employ 250 people and have annual sales of more than £40 million.

Kevin Walker, director at Priden, said: This is an exciting opportunity for our staff and customers. With Elaghmore, Priden now has a strong financial backer, with a track record of growing businesses, who can help us build on our successful work and take us to the next level of our development.

“By working closely with another thriving local company, SB Components, it means we can achieve our ambition of establishing Priden as a national business and open up new opportunities to bring our engineering expertise to new sectors.”

Laura Cork

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Priden Engineering Ltd

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