Albion has sold ELE Advanced Technologies to Lloyds Development Capital
Lancashire-based ELE provides highly specialised technology, including advanced robotics, to precision engineer components for the aerospace, power and automotive sectors for clients including GE, Rolls-Royce and Siemens. In its latest financial year, ELE generated revenues of almost £14 million, and currently employs more than 180 people from its facilities in Colne, Lancashire, and Trencin, Slovakia.
Robert Whitby-Smith, Partner, Albion, says: “As a long-term supporter of ELE, we are delighted to have achieved a total return of 4x cost for our investors and that ELE has found a strong partner to continue the scale up. We wish Manesh and the ELE team all the best in the next stage of their journey.”
Manesh Pandya, CEO at ELE Advanced Technologies, commented: “We are delighted to deliver this result for our shareholders. Albion, and in particular Robert Whitby-Smith, played a vital role in the development of the business over the last 14 years. Albion understood the business in detail and throughout their involvement they challenged constructively in a manner that was personable, understanding, accommodating and supportive. Albion’s positive support and patient capital was central to our ability to build the strong business we have today, which is now ready to scale to the next level.”