Pembrokeshire-based Jenkins and Davies specialises in providing engineering services to the petrochemical industry and employs 100 people. David Wright, who will become financial director, and Martin Kiss, soon to be managing director, bought into the company.

Rhian Pugh, investment executive at Finance Wales, says, ‘The company is well established and has a strong track record with its customers. The management team were offered an opportunity to buy the company through natural succession and have plans to take the business forward.’

Advisors on the deal include Hugh James Solicitors, HW Corporate Finance, PBD, Quinn Partnership, and Capital Law.