CorpAcq, an Altrincham-based private investment group, has acquired Olympus Engineering for an undisclosed sum. The precision engineering company is based in Stoke-on-Trent and supplies manufacturers such as JCB, Bentley Motors, Kawasaki and HydraForce Hydraulics.

It employs 160 people. The company’s founder, Neil Blood, was killed in a cycling accident in Jersey last year, and the business has since been run by Mr Blood’s father, Geoff.

David Martin, managing director of CorpAcq, said: “Through Neil’s drive, vision and ability, Olympus has grown into a very successful business, and we aim to continue to build on his legacy.

“The company fits well with our investment criteria of being a well-run, respected business which is profitable and provides high-quality products to its customers. It has had substantial recent investment in ‘state of the art’ plant and machinery to keep it at the forefront of its industry, and is well-positioned for sustainable growth over the coming years as the sector continues to strengthen.”

Mr Martin added: “This is our first acquisition in the precision engineering sector, and it underlines our faith in British manufacturing and its future.”