Shoosmiths advises ENACT on acquisition of Accrofab and Bromford Industries

Shoosmiths’ corporate restructuring and advisory (CR&A) team has advised Endless LLP’s Enact Fund III on the acquisition of the business and assets of Accrofab Ltd and the Alcester site of Bromford Industries Ltd.

Accrofab and Bromford Industries, which were established nearly 75 years ago and offer precision engineer fabricated components for the aerospace and power generation sector, operate out of sites in Derby and Alcester. On 9 March, Ryan Grant and Chris Pole of Interpath Advisory were appointed joint administrators of both companies.

Following completion of the deal, both companies, who retain a strong blue chip client base, will trade under the Accrofab brand and the jobs of 220 current employees will be secured. 

The deal was led by Shoosmiths’ CR&A partner Bethan Moore, senior associate Lucy Sanderson and trainee solicitor Andria Stylianou, supported by corporate partner Andrew Millar, principal associate Gemma Porter and trainee Sarah Palmer as well as partner Anna Robson and senior associate Ben Churchyard from the banking and finance division.

Endless is supporting the current management team, led by CEO Ed Ashworth, to separate the businesses from the Bromford Group and invest in its operations to enable growth with both existing and new customers. 

Bethan Moore, Shoosmiths’ CR&A partner, said:

“We were pleased to have been instructed by Enact on this important acquisition and to play our part in securing hundreds of jobs, as well as helping the well-respected Accrofab brand to continue.”