Northampton-based Cosworth has completed the sale of Adaero Precision Components to Swedish group Indutrade. Devon-based Adaero supplies components for the optical, medical, laser and leak detection sectors. It was acquired by the Cosworth Group almost three years ago and has an annual turnover of £4.4 million.

Cosworth chief executive Hal Reisiger says that the sale will allow the group to re-invest in its core businesses. “This sale is consistent with our strategy to be a leading supplier and chosen partner in the high-performance sectors of the automotive, performance after-market and motor-sport markets.

“It allows us to re-deploy our capital to our core businesses, enabling us to accelerate the development of new products and services, and to further invest in our capabilities. Adaero is an outstanding business, and we are proud of the role it has played as part of the Cosworth Group.”