In May 2021, Enact supported the management buyout of Edbro, acquiring the business from JOST Werke AG. Edbro is one of the UK’s leading manufacturers of hydraulic cylinders and systems used on tipper trucks & trailers and heavy-duty mining equipment.
The investment is the eighth from Enact Fund II, the £30m dedicated SME fund raised in May 2019.
Edbro has been leading the market with product developments ever since 1916 when the company’s founder Maurice Edwards developed the first ever hoist to be powered by a truck engine. Based on a long-standing tradition of cutting-edge innovation and with over 100 years of industry expertise behind them, Edbro products remain at the forefront of the hydraulic tipping market.
Trading from a well invested 14-acre manufacturing site in Bolton, Edbro is a worldwide exporter of On-Road and Off-Road products, selling directly to over 250 bodybuilders and OEMs. The Company has a strong reputation for quality, reliability and performance of its products and Enact is committed to supporting the business through further capital investment and product development.
THE IMPACT SO FAR
Prior to the acquisition by Enact, Edbro was a non-core asset of the much larger JOST Group – a German listed business focussing on the distribution of truck and trailer parts across the world. Using our experience, Enact has successfully carved out the business from its parent with limited operational issues, achieving a standalone independent entity with its own commercial function. Enact has provided investment to professionalise the business and improve profitability by embedding cost savings and developing new sales channels.
Enact has worked closely with the business to recruit a new Chairperson, Managing Director, Operations Director and Finance Director, to help realise its growth ambitions. The management team continue to build on a strong order book, winning new business and reengineering core products to penetrate a wider market.