Management buy in for cable maker

MACCLESFIELD retractable coiled cable manufacturer Autac Products has been sold to its former finance manager for an undisclosed sum.

The management buy in deal has been supported with funding from Royal Bank of Scotland.

Sallie Lowe, who worked for the firm for more than 30 years, has acquired the business in partnership with her husband David, following the retirement of the firm’s previous owners.

The duo intend to continue to run the business in line with current operations, whilst also focusing on driving growth and expansion.

Autac Products at Bollin Cable Works on London Road, is a UK designer and manufacturer of high quality electrical cables, coils, plugs and retractable coiled cable assemblies and employs 20 people.

Originally established in 1964, the company supplies businesses throughout the world in the electrical and commercial vehicle, aviation, defence, communication, agricultural, marine, oil, chemical and medical distribution industries.

RBS has supported the MBI with a loan and working capital facility. Graham Saul from Stockport-based accountancy practice Tectanet Systems also acted on the deal along with solicitor Liz Delgado from in-house lawyer.

Sallie Lowe said: “I am pleased that our acquisition has been successful.  I have worked for Autac Products for over 30 years and am proud that I have been involved in shaping it into the company it is today. 

“To own it is a dream come true and whilst it is very much business as usual, we are looking forward to focussing on new opportunities for growth.

“Andy Adshead and the team at Royal Bank of Scotland have been extremely supportive of the MBI and the funding they have provided has enabled us to complete the deal.  I’d also like to thank our advisors Graham Saul and Liz Delgado for their advice which has been instrumental.”

Adshead, senior relationship manager at RBS, said: “I am pleased that we have been able to support Sallie and David with their acquisition of Autac Products Limited.

“Having worked in the company for many years, Sallie is ideally placed to take over the reins and continue its development. 

“She understands the company, the industries’ they operate in and already has good relationship with their customers and suppliers.”

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