For Sale - Designer and Manufacturer of Specialist Vehicles

Armstrong Watson is urgently seeking interested parties with regards to the sale of the business and assets of Penman Engineering Limited (the “Company”). Background                    

Based in Dumfries, with a 157 year history, the Company is a provider of engineering, fabrication, integration and design services for bespoke vehicles across a diverse range of applications, including:

  • Special to role vehicles;
  • Protected (armoured) vehicles;
  • Containerised systems; and
  • Bespoke commercial coach work.

These vehicles are manufactured for a broad range of global customers including UK MOD, UK Government, FCO, NATO, UN, foreign military and government, NGO’s, humanitarian organisations and charities as well as commercial companies within the cash in transit, infrastructure, nuclear/subsea industries and for the high net worth private sector.
The Company also provides a full service capability to re-role or extend the life of vehicles which have had extensive use. 

Key Strengths

  • High barriers to entry into niche markets with minimal competition
  • Substantial forward order book across a diverse income stream coupled with recurring revenues on after sales services
  • Significant pipeline and opportunities prevalent into export markets
  • High value intellectual property
  • Integrated, 130,000 sq. ft. design, development, manufacturing and storage leasehold site
  • Long standing and robust customer relationships
  • ISO 9001:2008 accreditation for all key activities
  • High levels of security accreditation

Expressions of interest are required by 5pm on Friday 16th September following which, offers and proof of funding will be sought. Further information is available, subject to signing a non-disclosure agreement.


Chris Wright
Armstrong Watson
0113 2211 320

Robert Wilkinson
Armstrong Watson
0113 2211 344

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