The deal was backed by private equity firm Dunedin Capital Partners, which provided £21 million for a majority stake in the company.

The deal is the first investment for Dunedin’s £250 million Buyout Fund II. Barclays Leveraged Finance and Kaupthing Singer & Friedlander also provided a debt package worth £27.5 million.

WFEL’s management team was led by managing director Ian Wilson and finance director Cliff Richards. Dunedin’s Dougal Bennett is joining the company’s board.

Stockport-based WFEL specialises in the design and manufacture of military tactical bridges, primarily to the UK and US markets. The company also makes mobile bridges.

Hammonds was legal adviser to Dunedin, while Catalyst Corporate Finance provided finance advice. Jefferies Quarterdeck was financial adviser and Kirkpatrick & Lockhart Nicholson Graham the solicitor to the sellers.