Browne Jacobson advises on Rcapital’s acquisition of TPG Engineering

Browne Jacobson has advised Rcapital on the acquisition of Manchester based TPG Engineering Ltd from AIM Listed specialist engineering business, TP Group plc.

TPG Engineering design and manufactures large, high-integrity gas and fluid management equipment and other fabricated structures in specialist metals, principally for the oil and gas market.

Founded in 2004, Rcapital is a private equity firm that specialises in helping small and medium-sized companies grow through a combination of private investment and commercial expertise. Since 2004, Rcapital has made over 70 portfolio investments from a wide range of industries and geographic spread.

The Browne Jacobson team comprised Gavin Cummings, Sandra Wong and Matthew Dorman.

Chris Campbell, partner at Rcapital, said:

“We are excited about the opportunity that this acquisition brings. Whilst the business’s core markets have been impacted by Covid-19, the business has solid fundamentals, built on quality products and high levels of customer service.

“This acquisition complements other investments in the RCapital portfolio, which will help support the management team, who are motivated to drive the business forward.”

“The team at Browne Jacobson have first rate credentials in the mid-market arena and we are delighted with their support in helping to complete our latest acquisition.”

Gavin Cummings, corporate finance partner and head of the firm’s SME Group, added:

“Rcapital has an impressive track record in helping to transform businesses such as TPG Engineering and we are delighted to have advised on their latest acquisition which will help to secure jobs at the firm’s Dukinfield site. It also demonstrates that deals in the mid-market space are still being done, despite the pandemic.”