Orbis Engineers Sale Of Adaero Precision Components To Indutrade
Birmingham-based corporate finance advisers Orbis Partners have advised Northampton based Cosworth Group (“Cosworth”) on the sale of Adaero Precision Components Limited (“Adaero”) to Indutrade UK, a division of Swedish industrial group Indutrade AB.
Established in 1988, Adaero is a specialist manufacturer of high precision components, supplying equipment and instrument manufacturers in the medical, optical, defence, laser and hydraulic industries. Adaero was purchased by Cosworth, the world-renowned performance engineering and manufacturing group, in 2012. During its three-year ownership of Adaero, Cosworth has grown the business significantly to deliver growth in both revenue and profitability.
Headquartered in Sweden, Indutrade AB has over 180 subsidiaries organised across six business areas: Engineering & Equipment, Flow Technology, Fluids & Mechanical Solutions, Industrial Components, Measurement & Sensor Technology and Special Products. The group generated revenues of SEK 8,831 million in 2013.
This sale is consistent with our strategy to be a leading supplier and chosen partner in the high-performance sectors of the automotive, performance aftermarket and motorsport markets. It allows us to redeploy our capital to our core business enabling us to accelerate the development of new products and services and to further invest in our capabilities.
Hal Reisiger, Chief Executive Office
We are excited to have the Adaero team join our expanding group of highly technical, niche engineering businesses. We see great potential for continuing the development of Adaero in the future.
I am delighted to have concluded a deal that will enable Cosworth to focus on its core business. We identified Indutrade as an ideal buyer as a result of their growth in the UK through acquisitions and their strong engineering and industrial focus.
The Orbis transaction team included Steve Nock. Legal advice to Cosworth was provided by Wedlake Bell LLP and to Indutrade by the Birmingham office of Shoosmiths LLP.
