One of the UK’s most successful Brexit-backing businesses is staying in Britain after being bought out by its success-hungry management team.
There were fears Birmingham-based metal maker Brandauer, which exports 75% of the components and tools it makes to 26 different countries, could be lost to foreign owners.
But it will continue to sell unrivalled made in Britain quality to the world after a management buy out ensured it remains in UK ownership and in Britain’s industrial heartland.
Brandauer is one of only a select number of manufacturers to hold two King’s Award and Queen’s Award titles at the same time, with the company recognised by royalty for innovation and international trade.
The gongs have helped the business win new contracts, especially in America, where the Royal Family is highly revered.
And it is further proof the buoyant Made in Britain sector – now worth £518 billion and supporting 7.3 million jobs – is thriving outside the closed-shop EU.
Brandauer was honoured for manufacturing innovative and globally competitive precision tools that can produce micron accuracy components.
Since Brexit Brandauer, a 164-year-old family-run business, has secured multi-million pound deals in France, Holland and Slovakia.
Every week it produces millions of precision components which are shipped out to customers in China, across the EU, the Middle East, and the US.
Specialist parts are used in kettles, to find missing people through reconnaissance drones and wafer-thin laminations used in electric vehicles.
Chief executive Rowan Crozier said: “We believe we have created something special, exporting precision parts and tools to more than 26 different countries from our base in Birmingham.
“There was lots of interest from overseas, some of our customers and private equity, but deep down we knew that could mean changes to the fabric of the business. With this in mind, the management team decided we’d take matters into our own hands by leading a (buy out).”
And in a defiant swipe at doom-mongers, naysayers and Brexit-bashers who claim there is no place for well-made products in markets dominated by cheap and cheerful products mass produced in countries like China.
Mr Crozier, who joined forces with fellow bosses Stuart Berry and David Chapman to buy the historic company in a deal financed by HSBC, said: “Brandauer, and several SMEs across the UK, are rewriting this approach to business – bold and brave is how I like to describe it.
“We’ve taken on the rest of the world and proved that we can not only compete with lower cost countries, but we can actually take them on and win through precision manufacturing expertise, supply chain management and a proven track record in delivering repeatable quality.”
Brandauer’s history dates back to the 1780s when Jean Petit, a French Huguenot refugee, fled to England to escape religious persecution, setting up a metalworking business in Birmingham.
The Petit family – now in its sixth generation – still made up the majority of the 42 shareholders who sold the business.
Annual sales are projected to reach £12m by 2029 as it seals its reputation as a leading precision engineering specialist taking on the world.