Primary invests in Italian engineering design business
Primary has completed its first investment by in Italy, the acquisition of Tesco SpA.
Based in Turin, Tesco has provided engineering design services to the automotive industry for over 30 years. Tesco and its management team have developed a reputation for quality through its relationships with a blue chip customer base throughout Europe and the Far East.
The new investment has been structured alongside Primary's existing investment in P+Z. Primary led and arranged the funding for the DM30 million management buy-out of P+Z in March 1999. P+Z is a leading supplier of engineering design services to the automotive and aerospace industries in German and Europe, employing over 300 highly qualified engineers and designers from their state of the art facilities in Munich and is the largest providers of such services to BMW.
Tesco will operate alongside its new sister company, P+Z Engineering GmbH (P+Z) enabling both companies to provide an integrated approach and complementary services.
Contact Jackie Adams for more information
Tel: +44(0) 20 7920 4800
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