Hydraulics firm bags new £10m investment

BOSSES at a hydraulic systems firm in Bolton are celebrating after securing a GBP10m capital injection. The 105-year-old firm Edbro, based in Nelson Street, has joined Enact, a platform run by private equity investor Endless. And this has unlocked a credit facility with Shawbrook Bank which will help the historic firm take advantage of worldwide development opportunities.

Debt advisory team FRP, based in Manchester, was instrumental in bringing the parties together. Richard Harrison, partner at Enact, said: “This transaction represents a significant milestone for Edbro and will enable the business to pursue its ambitious growth plans in the coming years.” Andy Pickford, debt advisory director at FRP, said: “Edbro is a world-leading manufacturer and has considerable growth potential both in the UK and overseas.

“This funding and support from Shawbrook Bank will provide the business with considerable strength and the working capital to secure new contracts while continuing to invest in the future of the business.” Company founder Maurice Edwards laid the foundation for Edbro’s success by developing the first-ever hoist to be powered by a truck engine. Today it has customers across Europe, the Middle East, Africa, Asia and Australia.

Matt Greenhalgh, director of corporate lending at Shawbrook, added: “Small and medium sized firms like Edbro represent the engine room of our economy and ensuring they have the support they need to grow will play a vital role in delivering the recovery on a local and national level”