Husband and wife team take over Macclesfield manufacturer Autac Products

The former finance manager of Cheshire-based cable manufacturer Autac Products Limited has bought the business with funding from Royal Bank of Scotland (RBS).

Sallie Lowe, who first joined Autac over 30 years ago, completed the acquisition for an undisclosed sum in partnership with her husband, David.

Following the management buy-in, Sallie and David plan to run the Macclesfield-based company in line with its current operations.

Located at Bollin Cable Works on London Road, Autac designs and manufactures electrical cables, plugs, coils and retractable coiled cable assemblies. Founded in 1964, the firm supplies businesses all over the world in a number of sectors, including vehicle manufacturing, defence, aviation, agriculture and chemicals

Sallie Lowe said: “I am pleased that our acquisition has been successful. I have worked for Autac Products for over 30 years and am proud that I have been involved in shaping it into the company it is today.

“To own it is a dream come true and whilst it is very much business as usual, we are looking forward to focussing on new opportunities for growth.”

She continued: “Andy Adshead and the team at Royal Bank of Scotland have been extremely supportive of the MBI and the funding they have provided has enabled us to complete the deal.”

To support the transaction, RBS provided a loan and working capital facility.

Andy Adshead, a senior relationship manager with RBS, commented: “I am pleased that we have been able to support Sallie and David with their acquisition of Autac Products Limited.”

“Having worked in the company for many years, Sallie is ideally placed to take over the reins and continue its development. She understands the company, the industries’ they operate in and already has good relationship with their customers and suppliers.”

He added: “We wish them all the best with the takeover and look forward to continuing to work alongside the duo in the future.”

Speaking further, Autac owner Sallie praised the “instrumental” support of Graham Saul of Stockport-based accountants Tectanet Systems and solicitor Liz Delgado of In-House Lawyer, both of whom acted on the MBI.

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