UK clutch systems maker Automotive Products UK has completed a buyout by an international consortium of private investors.
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The company will soon be renamed Automotive Products Driveline Technology.
Managing director Andrew Richardson led the buyout from the AP Group of the UK and Spanish operations, which design, develop and manufacture car and commercial vehicle clutches and associated equipment for OEMs and the aftermarket.
AP’s customers include MG Rover, Ford, Land Rover, Honda, Volvo, Aston Martin, Ferrari, Unipart and Delphi.
The company also has a technical partnership with Japanese transmissions manufacturer FCC.
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By GlobalDataThe business, previously known as AP Borg & Beck Ltd, will continue manufacturing at its plant in Leamington Spa, in England’s Midlands, where it has been based for 70 years and currently employs around 250.
The Spanish factory, near Bilbao on the northern coast, employs 50 workers.
The private investors, primarily based in North America, have extensive holdings in the automotive industry and control companies with revenues in excess of £500 million.
Financial details of the deal would not be revealed, a spokesman told just-auto.
