In October 2012 Pemberton Capital acquired the business of Cobra Automotive out of administration in a deal which saved 118 jobs.
Since the acquisition Pemberton Capital has implemented an intensive operational and financial restructuring plan in order to restore the business to stability. This has involved major changes in the management team, a refocus of strategy and re-engagement with former and prospective customers and suppliers in order to repair reputational damage caused by the administration. The business changed its name to Appplied Component Technology (ACT) in January 2014.
ACT, founded in 2002 and based in Wrexham, Wales, is one of the UK’s leading independent automotive components manufacturers. It has a current turnover of £9m and produces a range of high end interior trim products in a purpose built manufacturing facility for a number of
automotive manufacturers including General Motors, Volvo and Audi. The business has a strong reputation for technical innovation and quality.
The strategic position of the business is sound and the outlook is promising. The UK automotive trim sector is experiencing high growth following a long period of contraction. The UK car industry is currently enjoying significant growth, with annual growth in production in the year to July 2012 running at 22% and a number of carmakers such as Jaguar Land Rover and Honda having recently announced very large investments in the UK. However, the availability of UK component supply to support this production has struggled to keep up with this growth. As a result, quality local component suppliers are experiencing very high demand for their products.