ENACT COMPLETES ACQUISITION OF EDBRO LIMITED FROM JOST
Enact is pleased to announce the acquisition of Edbro Limited (“Edbro”) from its parent company JOST Werke AG (“JOST”). The transaction was led by new Enact Partner, Richard Harrison.
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.
Located in Bolton, Edbro has been leading the market with product developments ever since 1916 when the company’s founder Maurice Edwards developed the first ever hoist to be powered by a truck engine. Based on a long-standing tradition of cutting-edge innovation and with over 100 years of industry expertise behind them, Edbro products remain at the forefront of the hydraulic tipping market.
Richard Harrison commented “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.”
Richard 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).