Police have issued an appeal to find Michael Cooper, 29, who is wanted on suspicion of aggravated burglary and affray.
He is wanted in connection with two incidents on October 28.
Around 5.30am two men entered a property on St Stephens Road and threatened the male homeowner with a machete. A short time later, around 6am, a vehicle was vandalised in St Stephens Road and another man threatened with a machete.
Cooper is described as white, 6ft tall, with short, dark-brown hair and green eyes.
He has links to the Deepdale and Ribbleton areas of Preston, as well as Colne.
Police are appealing for information and advising people not to approach him.
Sgt Scott Archer, of Preston Police, said: “Cooper is wanted in connection with two serious offences and this was a terrifying ordeal for the alleged victims.
“I would urge anybody who recognises Cooper to get in touch as a matter of urgency”
Cooper is from Derby Street, Colne, but police believe he is in Preston, where he has links to Ribbleton and Deepdale.
Anyone with information can contact police on 101, (01772) 209729 or email: forcecontrolroom@lancashire.pnn.police.uk or
2954@lancashire.pnn.police.uk