Mon, 07 Sep 2015 | BUSINESS SALE
A car parts manufacturer based in County Durham has been bought by a global supply chain specialist.
DPE Automotive, which operates from Newton Aycliffe, has been acquired by Arlington Industries for an undisclosed sum.
The purchaser has headquarters in Coventry but operates globally as a supplier of automotive and aerospace components. It made the acquisition to “enhance growth, but also [to] assist in the diversification of our customer base”, according to Mark Frankel, the chief executive of Arlington.
The sale comes just 12 months after DPE Automotive changed hands through an MBO, which was driven by lead investor Andrew Lapping from the private equity firm Hamilton Capital and Rudi Wright, an entrepreneur.
Following his initial investment, Mr Lapping commented: “When I made the initial investment, I had great confidence in the ability and aptitude of Peter Coates and his team at DPE Automotive to grow the business and that confidence has certainly been repaid.”
Investment in the MBO was also made by the Finance for Business North East Angel Fund, which is managed by Rivers Capital Partners. Michael Dickens, fund manager at Rivers, said that the fact that the firm has been sold so quickly after the MBO is “testament to the terrific work which Peter Coates and everyone at the company has put into the business and to the high quality of the products they make”.
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