MSP specialises in the manufacturing of springs and stampings in a vast range of materials, for various different industries including aerospace and oil and gas.
Business development during Nevis ownership
Established in 1964, MSP was acquired by Nevis in February 2008.
At the time of the acquisition, Nevis brought in Keith Gardner to replace the outgoing Managing Director and to complement the existing team. We worked with the existing second tier of management providing them with the training and support required to create a high performing team across sales, operations and finance.
Nevis partnered with the management team to develop MSP’s systems and processes to achieve the accreditations (AS 9100 and NADCAP) required to grow sales in its core Aerospace market and to implement a new ERP system providing job costing and improved management information.
Investment in new machinery assisted in automating aspects of production increasing capacity and improving margins.
The acquisition of Invincible Spring Company in 2011 expanded MSP’s customer base and brought strong additions to the sales and quality teams.
Nevis analysed MSP’s end markets and territories and identified the Oil and Gas sector as a key target for future growth. From a standing start, the sector generated consistent growth with customers in the UK, Norway and the USA and represented a third of the business at the time of the Nevis exit.
Under Nevis ownership, sales grew by more than 50% and the number of employees grew from 29 to 45.
In 2014, Nevis identified Indutrade as a strong strategic buyer for the business who would support its continued growth. After building a solid relationship with the Indutrade team, Nevis sold MSP in June 2014 providing an excellent return to Nevis and Managing Director, Keith Gardner, who remained with the business.
With Nevis supporting the management team, MSP grew to become recognised as a market leader in its chosen sectors.
“Nevis worked with us to build the foundations for growth and helped us to expand into new markets and territories. Their team brought a range of skills and experience together with a “can do” attitude that made them the ideal partner to drive the company forward.”
Keith Gardner, Managing Director