Accura Support Services has been the subject of a management buy-out backed by MBO Team / August Equity
Arrowpoint Advisory announces the completion of its Industrial sector team's latest deal, advising the shareholders and management team of Accura in a 37m buy-out by private equity firm, August Equity.
Accura provides business critical components to leading international companies principally in the oil and gas sector. This includes the supply of specialist pipes, valves and gaskets, assemblies and materials, as well as complementary technical manufacturing services. The company is headquartered in Wolverhampton and employs 175 staff.
“We have grown consistently ahead of plan since the original buy-out of Accura in 2005,” states Peter Andrews, outgoing chairman of Accura. “We believe that August Equity has both the quality and experience to embrace some of the growth opportunities and continue to drive the business forward. We put our trust in Arrowpoint Advisory to find the best deal for the shareholders and the company, and they didn't disappoint.”
Sam Watkinson, Partner at August Equity, who led the deal said: “Accura has an excellent reputation amongst customers who associate Accura with high quality performance and delivery on short lead times. The deal presents us with an opportunity to back a proven management team in a growing sector, and we are looking forward to working with the management team in continuing its growth.”
“Accura was an attractive deal to work on. Its customers trust it to provide rapid support for technical faults that could be costing them thousands of pounds per second,” says Patrick Groarke, Managing Director at Arrowpoint Advisory. “The deal has also served to further strengthen our credentials in the oil and gas sector.”