Loughborough manufacturer bought by Midlands group

WEST BROMWICH manufacturer Ash & Lacy has bought moveable wall specialist Accordial Group after a search for an acquisition that would expand the company’s operations.

Ash & Lacy, which was bought from Hill & Smith in 2011, works in the construction, automotive, acoustic and audio markets, making engineered facade and roofing systems as well as acoustic mesh and other components.

It has bought Loughborough-based Accordial for an undisclosed sum, with the deal enabling Accordial’s shareholders to retire.

The acquisition fits with Ash & Lacy’s strategy of investing in its internal manufacturing capability while extending its reach into buildings through the acquisition of new product ranges.

Martyn Pilley of Cattaneo, who advised Ash & Lacy on the deal, said: “We approached Accordial Group on Ash & Lacy’s behalf at the end of September to discover that its shareholders were already considering their retirement options.

“We advised Ash & Lacy on the accelerated acquisition of Accordial’s business and assets which was concluded within a matter of weeks with Ash & Lacy taking over the business, including its 60 employees, at the beginning of December.”