Doncaster-based brake pad manufacturer AML Juratek has been bought out by Fras-le, a Brazilian car parts producer.
A deal, worth a reported £18.2m was signed yesterday (Feb 16th) to acquire 100% of the share capital of AML Juratek Limited and its subsidiaries. The transaction will then be completed within 30 days, subject to compliance conditions.
READ: JURATEK IN SECOND MBO
Current Directors Matt Robinson (MD), Mark Clegg (Operations) & Toby Whewell (Sales & Marketing) will continue to be responsible for Juratek group sales and operations.
Welcoming the deal, Matt Robinson commented: “We have experienced tremendous growth in the past 8 years, and we have exciting plans for the future. This deal gives us the synergies and strength to expand on these plans and to also aggressively pursue new opportunities. I am looking forward to guiding the company in the next exciting phase of its history.”
“This movement is part of our strategy of expanding the business in the aftermarket sector inserting the Company in mature markets such as the European one, through product diversification and brand expansion in the portfolio”, commented Fras-le’s Managing Director, Anderson Pontalti.
Juratek has been through two MBOs in recent years. The first was in 2016, followed by another in 2019 when Director Allan Hooks retired and the current trio of directors bought him out. The company went on to acquire independent distributor Bettaparts.
Fras-Le has, in partnership with Randon Companies, one of the most advanced research centres in Latin America with a structural laboratory and miles of different track for testing brake pads and other parts.