Roush Technologies Limited, the UK subsidiary of Roush Enterprises of Livonia, Michigan, USA, announced today that it was acquired by a British investor group led by Andrew Williams who becomes Chairman of the new business. The group also includes the current Roush Europe senior management team - Managing Director, John Mitchell and Finance Director, Gary Robertson - who continue in post and acquire an equity stake.
The acquirer will retain the name Roush Technologies Limited for a period of up to a year and will take over Roush’s existing facilities near Brentwood, Essex. The British investor group also acquired Mountune, Roush Technologies’ wholly owned race engine and
motorsport business. In addition, the company will continue to provide specialist support to Ford GT owners in the UK and Europe, and distribute Roush Performance aftermarket products and parts.
Andrew Williams says, “The initial retention of the Roush name – and the conclusion of a number of collaborative and license agreements, will ensure both continuity and stability of the business in the way it currently serves its clients and customers. During the next year, the business will be
progressively re-branded and repositioned to face and meet the changing demands of the automotive and engineering services sectors.”
John Mitchell, who remains responsible for day-to-day operations says, “We are very fortunate to have been able to achieve a formula which allows the business to move on and realign itself to develop in a changing engineering environment.”
Doug Smith, President and COO of Roush Enterprises commented, “This is a very positive move for both Roush Enterprises and our UK subsidiary. Our business in the UK has been very
strong over the last 12 years, but we felt that growing the business further would require not only a larger investment of capital but, more importantly, a significant commitment of time from our management team in the US. Our conclusion was to invest our time and money in continuing to grow our successful North American based operations.”
Financial details of Roush's acquisition have not been disclosed – neither has the intended branding for the business. The acquisition has been funded directly, with no venture capital investor involved.
