Engineering consultant snapped up as shareholders prepare to retire

ASG Group, an engineering consultant based in Derby, has been acquired by Pendine Group following the decision of its shareholders to retire.

The acquisition, supported by Beach Equity Investors, was managed by PKF Smith Cooper Corporate Finance.

ASG Group specialises in designing, developing, engineering, and manufacturing aftermarket vehicle accessories, supplying products to global OEMs, trade customers, and consumers under its brand, Travall.

Originally founded in the 1950s as Alan Smith Garages, the company was rebranded by Chairman Peter Allman in 1987.

Bruce Allman, ASG’s current managing director, will continue in his role.

He said: “Together with PKF Smith Cooper, we searched long and hard to find suitable new owners and believe we have made the correct decision to ensure stability and the continued success of the Group, as well as set it up for long term growth.

“I look forward to seeing ASG Group’s ongoing success as it continues to supply market-leading products to the automotive aftermarket with the same dedication to innovative engineering and high-quality British manufacturing as it always has.

“We couldn’t have achieved the sale without the invaluable support of the PKF Smith Cooper team who guided us through the entire process and were instrumental in closing the deal.”

PKF Smith Cooper Corporate Finance provided strategic advice, identified potential buyers, and managed the deal. The advisory team was led by David Crump, corporate finance director at PKF Smith Cooper, with legal advice from Geldards.

Crump said: “It’s been a privilege to work with the Allman family, and very rewarding to complete this transaction to help them achieve their objectives. We have also enjoyed working with Tom and the Beach Equity team to deliver a great deal for both the buyer and sellers, and we look forward to seeing the ASG Group flourish under new ownership.”