August Equity buys Accura Support Services

August Equity, a UK mid-market private equity investor, has completed a £37m buy-in management buyout of Accura Support Services, a provider of business critical components to the oil and gas and aerospace sectors.

As part of the transaction, Peter Andrews, former chairman, and Barclays Ventures, which acquired Accura in 2005, will exit the business in full.

London-based August Equity has introduced Simon Armstrong, who has worked with the private equity firm on previous investments Intermed Holdings, exited in May 2007, and Rixonway Kitchens, an existing portfolio company.

Accura operates as two separate divisions: supply chain services under the brands Linvic and Concept; and technical contract services under the brands Accura Geometric and Accura Geneva.