AN Adlington company has changed hands in a multi-million pound management buy-in. Barclays Acquisition Finance (North West) has announced the completion of the deal at WST Engineering Ltd in Railway Road. The company, which was founded 35 years ago, manufactures components for automotive exhaust systems.

US-based Arvin Industries, one of the largest exhaust manufacturers in the world, has sold its 50 per cent shareholding in WST as a strategic move towards developing a more commercial relationship with its suppliers.

Arvin's European division will continue to be a major customer.

WST, which is recognised as a leader in the tube manipulation industry, currently employs more than 150 people at three sites in Adlington and Chorley, making components and specialist products for the replacement exhaust market. The company says the new management structure will not affect jobs at any of the sites.

The new management team is to be Tony Barson (managing director), who has 30 years' manufacturing experience - predominantly in the automotive industry - and Cheshire businessman Tony Wilson (commercial director).

Retiring managing director John Watson will remain as a consultant with the company.

Mr Barson said today: "This is a very exciting time for WST, which has great potential and is a growing engineering company.

"We now have the opportunity to diversify our product range and move into new markets both at home and in Europe.

"We have a very exciting future ahead of us." Mr Watson said: "I am delighted with the forward-looking plans of the new team.

"We had already taken the first steps to move WST into Europe and to expand the product/client base and this is exactly the direction in which WST should be going."

The management buy-in is the fourth major deal to be completed by Barclays Acquisition Finance (North West) since the unit was established earlier this year.

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