Ashby company BRUSH has been bought out by the multi-national One Equity Partners.

BRUSH, based in Excelsior Way, is a leading independent provider of electrical equipment and the world's largest independent manufacturer of generators.

OEP, a middle market private equity firm, has announced that it has completed the acquisition of the BRUSH Group which was founded in 1889 and has its headquarters in Ashby.

But the terms of the private transaction were not disclosed, reports prnewswire.com.

BRUSH has a long history in serving power generation, control and distribution products, namely turbogenerators, transformers, and switchgear.

The Company's 1,200 employees also provide a wide range of services for these same product segments worldwide.

But the move comes at a time when engineers employed by Brush Electrical Machines have been staging summer strikes in response to 'fire and rehire' pay cuts of up to £15,000.

Unite, the UK's leading union, said the 30 engineers, who service generators around the world, voted overwhelmingly in favour of striking and will stage industrial action every day from until August 16, reports Unitetheunion.org.

The proposed contracts include reductions to overtime rates, allowances, holidays and other terms and conditions that would result in a pay cut of between £10,000 and £15,000 a year.

The engineers' jobs have been threatened if they do not sign the new contracts, which will leave them on pay rates 'well below the industry standard'.

The union said the strikes will 'cause havoc to the firm's worldwide servicing schedule and serious inconvenience to its international clients'.

Brush's products are used across a wide range of end markets, including utilities, industrial, maritime, rail, data centres and renewable applications.

OEP's acquisition of BRUSH comes at a time when the electrical power sector is undergoing a significant transformation.

"With a rich history dating back to the 1880s, BRUSH has a proven track record for market leadership, product innovation, and trusted customer service. OEP is excited to partner with BRUSH's industry-leading management team for the next chapter in the BRUSH story," said Ori Birnboim, Managing Director, OEP.

Steve Lunau, OEP Managing Director, added: "The world has chosen electricity as its power source for the 21st century, and BRUSH is well positioned to benefit from these positive underlying electrification trends.

"BRUSH supports its customers upgrading aging grids, meeting peak and standby power needs, and deploying new products for rapidly evolving requirements such as EV charging, data centers, rail transportation, smart grid and renewable applications."

Additionally, BRUSH has acquired Aprenda, a well-respected specialist electrical engineering company that provides a wide range of high-level consultation, design and turnkey installation services for customers in the UK power distribution industry, for undisclosed terms.

Chris Abbott, CEO of BRUSH, added: "OEP has a strong track record of building market-leading industrial companies through organic and inorganic investment initiatives that drive operational performance, add product capabilities and expand geographic reach.

"We're thrilled to have completed the acquisition of Aprenda with the support of OEP and pleased to be partnering as we continue to further develop the Company. Together, we look forward to starting a new and exciting chapter of growth for BRUSH."

OEP has offices in New York, Chicago, Frankfurt and Amsterdam.