Private equity deal secures more than 220 jobs at Accrofab and Bromford
A private equity fund managed by Endless LLP has acquired the business and assets of Derby-based Accrofab Ltd and the Alcester site of Bromford Industries Ltd out of administration in a move that will secure the jobs of more than 220 employees.
The deal, which was announced on Wednesday, will see the two companies merged under the Accrofab brand. The new company will be headquartered in Derby and will continue to operate from both sites.
Private Equity News UK
Endless is a private equity firm that invests in transformational SME opportunities. The firm has a track record of investing in the manufacturing sector and has previously acquired a number of engineering businesses.
The acquisition of Accrofab and Bromford is a significant deal for Endless. The two companies are leading suppliers of fabricated components to the aerospace and power generation industries. The deal will give Endless a strong foothold in these two important sectors.
The acquisition is also good news for the employees of Accrofab and Bromford. The deal will secure their jobs and allow the companies to continue to grow.
Ryan Grant, joint administrator of Bromford Industries Ltd and Accrofab Ltd, said: “We’re delighted to have secured this transaction, which not only sees production continue uninterrupted at both sites in Alcester and Derby, but which importantly safeguards the jobs of 220 members of staff.”
Nick Clegg, investment director at Endless, said: “We’re excited to acquire Accrofab and Bromford, two leading suppliers of fabricated components to the aerospace and power generation industries. We believe that these businesses have significant potential for growth and we’re committed to supporting their continued success.”
The deal is subject to regulatory approval and is expected to be completed in the coming weeks.
Private Equity News UK
