Autac is pleased to announce that it has completed the acquisition of Stacey Cables, a supplier of cable assemblies to the automotive, energy, scientific, medical, highways and railways sectors with some 30-year standing.
“We are incredibly excited about this project which is line with our growth strategy for the business. Since our management buy-in in 2016 we have been looking for new opportunities to grow and innovate in an organic and sustainable way” comments David Lowe, Autac’s Managing Director.
“With its 30-year pedigree, Stacey Cables presented that opportunity. Its standing as a quality run, bespoke, UK manufacturer resonated with our own company values. We are very much looking forward to developing our range of products in our shared markets and further developing Autac’s ethos of quality, innovation and service.”
Martin Stacey, former CEO of Stacey Cables adds, “Whilst the circumstances of administration have been deeply upsetting for all involved, it is of great comfort to know that the Stacey Cables business and its clients are now in good and experienced hands with new owners Autac.”
The Stacey Cables business will be rebranded under the new name Autac Assemblies. The business will be relocated to its new home in Congleton and supported by the wider Autac team to maintain business as usual for Stacey Cables customers.
With the acquisition of this cable assemblies business comes the opportunity to significantly broaden the Autac product portfolio. This development could not be more timely, following Autac’s recent award ofa Knowledge Transfer Partnership (KTP) project, (funded by UK Research and Innovation through Innovate UK) together with the University of Salford.
Whilst the circumstances of administration have been deeply upsetting for all involved, it is of great comfort to know that the Stacey Cables business and its clients are now in good and experienced hands with new owners Autac.