Enact acquires manufacturer
Enact, the SME platform of private equity investor Endless, has acquired Edbro from its German parent company JOST Werke AG.
Edbro is a market leader in on-vehicle hydraulic systems including front end, underbody and ejector cylinders, waste handling equipment and customised hydraulic kit solutions.
The Bolton-based manufacturer has been leading the market with product developments for over a century with company’s founder Maurice Edwards developing the first ever hoist to be powered by a truck engine. This heritage and a focus on innovation has ensured Edbro products remain at the forefront of the hydraulic tipping market.
The deal was led by new Enact partner, Richard Harrison, who said: “We are delighted to support the management team and all of the Edbro employees as the business embarks on this exciting new chapter in its history. This business has huge potential and we will provide fresh capital investment and hands-on operational support to help unlock it.”
“This deal is a third investment for Enact in 2021 and further adds to our excellent track record of carving out businesses from large corporate sellers.”
Harrison was supported on the deal by John Stevens, Jon Duffy and Luke Wolf. Enact was advised by Elizabeth Tindall, James Finney, Edward Tompkin and Joanna Sowerby of Eversheds Sutherland (legal), Russ Cahill of Tax Advisory Partnership (Tax), Paul Fox of Fox Lloyd Jones (property) and Peter Warburton and Jamie Oliver of Vista (insurance).
JOST was advised by Oaklins Smith & Williamson (Corporate Finance) and White & Case (legal).