Enact Sells Edbro Hydraulics to Orsan Industries

On 21st March, Edbro Hydraulics Limited was acquired by Orsan Automotive Limited, a wholly owned subsidiary of Orsan Industries Incorporated, a €120m turnover Turkish headquartered group with multiple locations in Turkey and Mexico, manufacturing component parts for the Heavy Duty Vehicles (“HDV”) sector, including pneumatic braking and suspension systems since 1972.

Edbro is one of Europe’s leading manufacturers of hydraulic cynlinders for the “on-road” tipper truck market and other “off-road” applications, employing 144 people at its production facilities in Bolton.

Edbro CEO, Gordon Macdonald commented: “There are significant synergies between Orsan and Edbro. Our on-road telescopic tipping cylinders and supporting hydraulic systems will complement Orsan’s existing product portfolio and allow customers increased choice and improved supplier integration.

“We would like to thank our previous shareholders Enact for their financial and strategic support to develop our product portfolio and invest in new machinery.”

Fikret Orman, owner of Orsan Industries said: “We are delighted to welcome well-known brand Edbro to the Orsan Group as the latest acquisition to support our growth strategy and the steps we are taking towards becoming a global player in the Heavy Duty Vehicle sector.”

Richard Harrison, Enact Partner added: “Orsan represent a fantastic strategic fit for Edbro and the Company and its employees will benefit from being part of a larger group that can help it to further develop its commercial offering and penetrate new international markets. The Management team have done a great job navigating the business through challenging macro-economic conditions during our ownership and we wish them all the best for the future.”

Enact was advised on the sale by FRP Corporate Finance (Alex Starling), Womble Bond Dickinson (James Cook and David Ridley), and Tax Advisory Partnership (Russ Cahill).

Orsan were advised by MHA Baker Tilly (Rob Dando and Chris Denning) and Dede Law.