Originally named Tracey Engineering as a joint venture between Gerry Spencer and Colin French who were both ex-Unbrako employees. The business concentrated mainly on machining. The business operated from its premises in Lythalls Lane, Coventry.
Special Bolt acquired a number manufacturing machines from SPS - Unbrako during their restructure and subsequent closure of their Coventry operation. As a product of this acquisition Special Bolt expanded into Unit 3 employing 4 of the staff from SPS - Unbrako.