accelAccel International Holdings, with headquarters at 508 Colony Street in Meriden a manufacturer of “high performance” metallic and fiber conductors for the aerospace and electronics industries, has purchased the former site of Alexion Pharmaceuticals at 350 Knotter Drive in Cheshire for $4.77 million.

Dan Chung, Accel senior vice president told the Meriden Record daily newspaper the, company will operate the Cheshire facility in addition to Meriden, saying “this is going to be an additional facility, where we’re planning to invest over 40 million in (capital expenditures) and hire 120 people,” he said. “We will be maintaining Meriden.”

AIH has approximately 165 employees, and maintains an additional manufacturing facility in Avilla, Indiana, that reportedly employs fewer than 20 of the company’s employees.

The Cheshire property includes a 170,000 square foot facility which sits on 75 acres and is currently Gold Leed certified.

The property is assed at $18,328,800 and is paying taxes of $598,000.

The company has steadily expanded since it was first founded in Cheshire in 2002, the facility is expected to be ready in the first quarter of 2019.