Thu, 17 Sep 2026 | MBO/MBI
Private equity firm Foresight Group has made a £12 million investment to support a management buyout (MBO) at Leeds-based automotive, electrical and industrial consumable products supplier Automotive & Industrial Consumables (AIC).
The deal is Foresight’s fifth investment across Yorkshire and the North East over the past 12 months.
AIC supports the automotive aftermarket, electrical installation, construction and general industrial sectors, serving a diversified customer base, with strong recurring demand and established international sourcing capabilities.
The transaction will support the next stage of the company’s development as it seeks to further invest in sales and marketing, product expansion, website optimisation and the enhanced use of data and AI-powered analytics.
The MBO is being led by AIC’s existing senior management team, headed by Managing Director Prakash Patel, Finance Director Jake Bury, Sales Director Neil Hodson and Procurement Director Raj Patel.
Foresight Group will work closely with the company’s management team to accelerate its growth, drive operational improvements and increase market share.
The investment will also see Andrew Wakelin join AIC as chair, bringing over 35 years of experience in industrial distribution, most recently as Group Operations Director at private equity-backed industrial distributor Aspen Pumps.
AIC Managing Director Prakash Patel commented: "The management team has been driving the business for many years and is excited to take this next step. With Foresight's backing, we can invest behind a clear growth strategy, strengthen our market position and unlock opportunities that were previously out of reach."
Foresight Group Investment Director Richard Ralph added: "AIC combines many of the qualities we look for in a strong management team, highly recurring revenue, excellent cash generation and a market-leading position from which it can grow further.”
"We believe there is significant opportunity to accelerate growth through entering new product and geographic markets, and are excited to support Prakash, Jake, Raj and Neil as they deliver the next chapter of the business's development."
Find out more about the growing popularity of management buyouts as a succession option
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