Sheffield-based Cobra Sport (www.cobrasport.com), which manufactures high-performance vehicle exhausts, has expanded across the Pennines with help from a six-figure loan from the Northern Powerhouse Investment Fund.

It has acquired the assets of long-established Macclesfield-based JP Exhausts in a deal that has secured the jobs of all 16 staff at the site.

JP Exhausts had been facing an uncertain future, due to the retirement of the owner John Parker and the untimely death of his son Jim. The company name has been retained, and it will continue to manufacture in Cheshire — at new premises in Congleton.

The deal is expected to create another five jobs in the near future, and it will allow Cobra Sport to expand its offering to the motor-sport market.

Set up by Rachel Abbott and her brother Peter Jarvis in 2004, the company produces high-performance exhausts for clients including Subaru UK, Demon Tweeks and Radical Motorsport.

It currently exports around 10% of its output, primarily to Europe; it aims to break into the US market in the year ahead.

Rachel Abbott said: “We are pleased to welcome aboard our colleagues from JP Exhausts.

“Both companies have their origins around 50 years ago and can draw on a wealth of experience in the industry.

“Joining forces allows us to expand the range of products we offer and puts us in a stronger position to move forward.”