LG Motion acquires controlling interest in Precision Acoustics
13 June 2015
LG Motion has acquired a controlling interest in the ultrasonic measurement equipment manufacturer Precision Acoustics.
Existing shareholders Dr Andrew Hurrell and Dr Paul Morris maintain their interest in the company, whilst founder member and managing director Terri Gill has taken the opportunity to retire from the business.
With 15 employees and annual sales in excess of £1.5 million, Precision Acoustics is a leading manufacturer of ultrasonic measurement equipment with an established worldwide customer base in sectors as diverse as medical equipment manufacture, industrial non-destructive testing, national standards metrology, academia, space and defence research.
The Company has more than 25 years’ experience in acoustic measurement and material development with an extensive competence for equipment for the MHz ultrasound markets with over 75 percent exported globally. Its hydrophones, ultrasonic transducers, scanning tanks and other acoustic measurement products are used worldwide. The continued product development and research implementation will be overseen by Dr Andrew Hurrell and Dr Paul Morris.
Precision Acoustics is just over an hours' drive away from LG Motion facilities in Basingstoke. The move will see Precision Acoustics, its products, offices and identity maintained - with the Dorchester site continuing to operate as a production and development centre for acoustic & ultrasound components – fully utilising the two companies' complementary expertise and product focus areas.
Gary Livingstone, LG Motion’s managing director said: “This is an excellent addition for LG Motion, and firmly strengthens our position as a market leader in the production of acoustic scanning tanks and motion technology. The move allows us to offer our customers a wider product portfolio, particularly in our positioning and scanning solutions. We believe this is the beginning of Precision Acoustics setting a new benchmark in the ultrasound measurement market in terms of product performance and customer service.”
Terri Gill, the former managing director at Precision Acoustics said: “I couldn’t be happier with the new partnership following LG Motion’s acquisition. The potential synergy, particularly in mechanical and electronic motion control, will help drive the technology and product development skills of both companies."
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