Sale of Adaero Precision to Cosworth Group

Transcend Corporate (“Transcend”) has originated and advised the shareholders on the sale of highly profitable, £4m turnover Adaero Precision Components Limited (“Adaero”) to Cosworth Group (“Cosworth”).

Adaero is a leading specialist manufacturer of high precision components, typically machined to single figure micron tolerances, for leading aerospace, medical, optical, computer and scientific equipment manufacturers. Adaero was founded in 1988 as a partnership between Andy and Tony Dickinson and incorporated in 1999. The company operates from Crediton, Devon and employs over 50 staff.

Cosworth Group, with headquarters in Northampton, UK, provides high performance technologies to a diverse range of industries including aerospace, defence, automotive and sport. Cosworth has a globally recognised brand and employs over 400 staff across Europe, the USA and India with a turnover of £54.7 million in the year ended 31 December 2011.

Andy Dickinson commented “Following a full market search, Transcend did an excellent job in finding a strategic buyer committed to the continued development of the business, negotiating terms, structuring the transaction, managing the process and successfully delivering it. As shareholders we are delighted with this outcome.”

Ian Curtis, who led the transaction, said “Adaero is a strong business and is highly complementary to the Cosworth Group. The sale of Adaero is a great example of how we are able to identify a strategic buyer which is committed to the further developing of an already outstanding company and can support shareholders to achieve their objectives and crystallise value.”