The Newcastle-under-Lyme company specialises in developing and manufacturing custom-designed batteries and was previously owned by a Chinese state owned conglomerate, trading as Moltech Power Systems. Geldards advised Catapult Venture Managers who invested £300,000 from the Catapult Growth Fund. The deal was also back by Orbis Partners who introduced local businessman and operating partner Peter Jackson as chairman.

Geldards' Partner Debra Martin, who advised the investment team at Catapult said: "We are delighted to have been able to be involved in a deal that not only ensures the company realises its potential but also, fundamentally, has provided its future and saved jobs."

Catapult investment manager Ed Wass said: "Accutronics has a good management team in place, which has been further strengthened by Peter Jackson.

"Fundamentally, this is a good business operating in the high-margin, low volume, intelligent-battery sector. Despite operating issues with the former owners, the business is firmly established as a European leader in the design and assembly of smart batteries, providing custom-based solutions to OEMs (original equipment manufacturer)."

Accutronics is led by manager director Robert Phillips, who has run the business for the past eight years.

Mr Phillips said: "The business has always been strong at delivering quality products and service to its customers. Now the business is under UK ownership with supportive partners there is a big opportunity to consolidate our market position and target new customers in Europe and the USA."