The funding for the deal was provided by Venture Structured Finance and advice on the deal came from Hazlewoods.
PEL, founded in 1957, has factories in Monmouth and Malaysia and the management team plans to increase turnover during the next five years.
The management team comprising of Ian Davies, Mark Jones, Robert Mills and Ross James took legal advice from BPE Solicitors.
Ian Davies, managing director of PEL, said: "We are extremely pleased to have successfully completed the buy-out.
“To date PEL has experienced strong growth through reputation and recommendations.
“This deal puts us in a position to proactively seek and maximise opportunities in the market.
We already have a new contract in the pipeline, which will see us appointing up to 10 further production staff."
© Crimson Business Ltd. 2007
