Enact Fund, managed by private equity firm Endless LLP, has successfully acquired the business and assets of Accrofab and the Alcester site of Bromford Industries. The companies entered administration in March 2023. Administrators from Interpath advisory facilitated the business’s trading and acquisition.

Based across three sites in Leicester, Derby and Alcester, they specialise in precision manufacturing and fabrication of components. These components are then supplied to global Original Equipment Manufacturers (OEMs) in the aerospace, defence, and power generation sectors.

The businesses had a collective workforce of approximately 309 skilled individuals. This acquisition and sale of assets has safeguarded the jobs of more than 220 current employees.

The deal is being funded from Endless’ Enact Fund III, which focuses on investing in transformational opportunities within SMEs. Both Accrofab and Bromford Industries have a strong global client base, including prominent blue-chip companies. Following the deal, these companies will operate under the Accrofab brand.

Endless is actively supporting the current management team in separating the businesses from the Bromford Group. This investment acquisition is led by CEO Ed Ashworth, with a plan to foster mutual growth for both existing and new customers.

Both businesses were profitable, but loss-making within the Bromford Group led to their administration. Thanks to this deal, the Accrofab Group is well-positioned to benefit from the growth in its core aerospace and power generation markets.

Endless LLP’s history of supporting similar companies in distress has boosted the morale of existing employees at the new Accrofab Group. Cynergy Business Finance has stepped in to provide a new asset-based lending (ABL) facility to the Accrofab Group.

Enact Fund has decided not to purchase Bromford Industries’ Leicester site as part of this deal. The successful acquisition of Accrofab and the Alcester site is expected to have a positive impact on the overall business and employees involved.