Cheshire manufacturer bought out of administration

A Cheshire business has bought the assets and stock of a Crewe firm which went into administration last month.

Administrators were called in at Stacey Europe, which was based in Crewe, in July.

The assembly side of the business – Stacey Cables – has been bought by Autac which is based in Macclesfield.

A number of staff have moved with the business but most have lost their jobs as a result.

The administrators from accountancy Leonard Curtis had been looking for a buyer for the business.

Stacey Europe was launched 30 years ago and manufactured supplied cable assemblies to the automotive, energy, scientific, medical, highways and railways sectors with some 30-year standing.

Autac’s managing director David Lowe said: “We are incredibly excited about this project which is line with our growth strategy for the business.

“Since our management buy-in in 2016 we have been looking for new opportunities to grow and innovate in an organic and sustainable way.

“With its 30-year pedigree, Stacey Cables presented that opportunity. Its standing as a quality run, bespoke, UK manufacturer resonated with our own company values.

“We are very much looking forward to developing our range of products in our shared markets and further developing Autac’s ethos of quality, innovation and service.”

Martin Stacey, the former chief executive of Stacey Cables said: “Whilst the circumstances of administration have been deeply upsetting for all involved, it is of great comfort to know that the Stacey Cables business and its clients are now in good and experienced hands with new owners Autac.”

The Stacey Cables business will be rebranded under the new name Autac Assemblies.

The business will be relocated to its new home in Congleton and supported by the wider Autac team to maintain business as usual for Stacey Cables customers.

Autac said deal will give it the opportunity to significantly broaden the Autac product portfolio.