Manchester-headquartered, Ardenton Capital Corporation, has invested in Shaftec Automotive with funding support from PNC Business Credit UK.
Ardenton’s third investment in the West Midlands, Shaftec has been supplying remanufactured and new parts to the motor trade for more than 20 years, establishing itself as the leading transmission, steering and braking supplier to the UK aftermarket.
The business has a headcount of 130, operating from its 42,000 sq ft facility in Birmingham where it manufactures and distributes products across the UK and Europe.
Ardenton has been active in the West Midlands since the Canadian-headquartered investor established its first overseas office in the UK in early 2017. Led by experienced dealmakers Iain Marlow and Michael Bradbury, the UK team’s previous West Midlands acquisitions include Corbetts the Galvanizers in Telford, and PP Control & Automation based in Walsall.
Iain Marlow, Director of Ardenton UK, who led the deal supported by James Worrall and Jonny Nixon, said: “We seek to partner with exceptional management teams who demonstrate a clear passion for their businesses and are committed to long-term and sustainable growth. Shaftec Automotive is a true market leader and its success to date is a testament to the operational excellence and dedication of its management team.”
Shaftec Managing Director, Rob Jones, who founded the business 20 years ago after following his father’s footsteps into the industry, said: “At Shaftec we have always strived to improve the quality of service and product delivery we provide to our customers. The business has grown revenue by more than 50% over the last three years because of the strength of the team we’ve been able to build and we look forward to working alongside Ardenton to continue that growth.”
Tom Curtis, Sales Director added: “The deal will allow us to accelerate our growth across the UK and Europe. We pride ourselves on being able to provide the largest range of stock and combine this with unrivalled customer service and technical support. We look forward to working alongside Ardenton to grow the business further.”
Scott Marshall, Operations Director commented: “We recently received ISO9001 accreditation which is further testament to the quality of what we do and together with Ardenton’s investment will open up new markets for Shaftec.”