Peterlee, UK – County Durham-based Accedo Group has acquired local rubber goods maker Aldona Products and is planning to make “significant investments” in the business to modernise production processes and add new products.
Headquartered in Peterlee with one production facility, Aldona manufactures a range of compression and injection rubber moulded products for the automotive, oil & gas and petrochemical industries.
The new owners now plan to scale up existing operations through investments in emerging new energy technologies, Accedo said in a 13 July statement to ERJ.
The group said it is investing in new equipment and technology to bring the business “up-to-date” and reduce emissions.
In addition, new product offerings will complement the company’s existing range of hydraulic, pneumatic and rotary shaft seals.
Accedo, said group director Ben Richardson, will aim to design and develop new technologies based on the needs of customers and the emerging new markets.
Also commenting, group managing director John Lamb said Aldona was committed to supporting the manufacturing base in the UK.
The planned investments, he said, will reinforce the company's "strong roots" in North East England while generating more jobs and opportunities.
Accedo Group was founded in January by former GT Group sales director Lamb and design manager Richardson.
The firm acquired Aldona Seals, now rebranded as Aldona Products, and Alpha Process Controls in May from the Knorr-Bremse Group, the German parent company of engineering business GT Group.
Accedo secured a £200,000 funding from the North East Growth Capital Fund following the double acquisitions and is aiming to scale up its operations in the region.