Tricorn Group plc, a manufacturer of pipe assemblies and fittings for the aerospace, power generation and water industries, has bought Maxpower Automotive, which serves the off-highway market, for more than £1.5 million.

Tricorn Group plc, a manufacturer of pipe assemblies and fittings for the aerospace, power generation and water industries, has bought Maxpower Automotive, which serves the off-highway market, for more than £1.5 million.

Maxpower’s lead adviser was Sterling Capital Reserve, which has supported the vendors since their management buy-out five years ago.

Sterling’s team was led by managing director David Griffiths, who said the company has expanded considerably with new products under Richard Higginson and Mike Eades’ stewardship.

“With retirement in mind, we were asked by the vendors to find a suitable acquirer,” he added. “We believe that this business has an excellent strategic fit with Tricorn. From an advisers point of view it is always satisfying to see a successful sale of any business to reward the vendors for their hard work following a MBO.”