NVM exits Promatic
12 January 2015
12 January 2015
NVM Private Equity (NVM) has exited from Promatic, a leading manufacturer of automatic clay shooting traps used worldwide, to a syndicate led by Promatic senior management and including CCI International, a manufacturer and distributor of clay pigeon targets. The sale represents a money multiple of two times money on NVM’s original investment.
NVM invested in Cheshire based Promatic in 2007, to support its management buy-out and allow the business to leverage its brand in both existing and new markets globally. For over 25 years, Promatic has been designing and fabricating market leading automatic clay machines and associated shooting equipment for the world’s most prestigious shooting clubs and grounds. Since the business’ inception in 1985, Promatic has built-up a reputation for manufacturing quality equipment; some of their first machines are still in use at commercial facilities in over 60 countries worldwide.
For clay shooting devotees it is highly likely that the targets presented at shooting grounds or competitions are thrown from Promatic traps, making the brand a household name within the shooting industry. In 2014, it was reported that in the UK at least 600,000 people shoot clays and live quarry, and that the UK shooting industry is currently worth £2 billion a year to the UK economy.
East Midlands based CCI International has been manufacturing clay pigeon targets since 1982 and is the market leader for these products in the UK. Promatic’s new partnership with CCI International will form a one-stop-shop for all clay pigeon shooting products and services.
Brian Jardine, CEO of Promatic said: “I welcome Johnny Goodhart and the team from CCI to our board, and look forward to expanding our market worldwide utilising the synergies of the different products of both companies. This is a fantastic opportunity to better serve the clay shooting industry with quality clay traps, clay targets and other shooting equipment. Combining the experience of Promatic and CCI, we can better equip the industry with quality and innovative products that will meet the needs of customers and shooters alike.”
Karl Cockwill of NVM Private Equity said: “Promatic has a strong brand and a wide range of quality products that are well established within its key markets. The business will no doubt continue to go from strength-to-strength in its industry – complemented by CCI’s offerings. It has been a pleasure working with the management team, and we wish them every success for the future.”
NOTES TO EDITORS
NVM Private Equity is independently owned with 30 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing £300 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities of between £2 million and £10 million in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. www.nvm.co.uk
Promatic has been manufacturing shooting equipment since 1985. Brian Jardine bought the company in 1997 and moved it to its current HQ at Hooton, on the Wirral, UK. The equipment is made by shooters, for the shooting community. Many of the Promatic team, from CEO to workshop, shoot on a regular basis. Whether it is shooting clays, Game, Wildfowling, rough shooting or a mixture of them all, they all have a personal commitment to the sport therefore strive to produce a standard of shooting equipment that outperforms any other. www.promatic.co.uk
CCI International has been manufacturing clay pigeons since 1982 and is market leader in the UK. They export to many countries worldwide and have annual production of some 100 million clays. CCI clays are the preferred choice of most of the UK’s premier shooting grounds as well as many top clubs and grounds worldwide. www.cci-international.com
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