Investors snap up Midland engineering group Accura

ABLACK Country precision engineering group has been bought out by Staffordshire investors.

Willenhall-based Accura has been acquired for an undisclosed sum by Wright Industries, a technology investment group headquartered in Burton-upon-Trent.

Founded in 1979, Accura provides mechanical components, tooling and sub-assemblies for a wide range of markets including oil and gas exploration, aerospace, chemicals processing plant, automotive, healthcare, industrial and communications.

Operating across three manufacturing sites in the West Midlands, it has a turnover of £9 million and around 95 employees who will remain with the business post deal.

The deal sees the chief executive of Wright Industries Craig Wright buy back and return to the organisa- tion 20 years after he was group chief executive at Accura from 1998 to 2001.

Mr Wright commented: “Accura is a well-respected brand name in the region, dedicated to engineering and manufacturing products that meet the needs of some of the world’s most demanding industries.

“As such, it is now the lead investment for our precision technologies strategy alongside our electronics technologies investments, which have been marketed under the Con- nexion brand to date.

“Accura fits perfectly within Wright Industries’ portfolio and our team is delighted to be working in partnership with managing director Mike Richards and the highly experienced management based in the Midlands to deliver continuous improvements for the benefit of all stakeholders.”

Advisers on the deal were law firms Gateley and Addleshaws, with financials from HSBC and Grant Thorton.