Operating for some 25 years and based in the Home Counties, the business has established itself as an important Contract Electronic Manufacturing partner to its many customers. It offers:
• Full transparency, responsiveness and flexibility
• Proven ability to serve small and large industrial companies
• Trained staff in Manufacturing Engineering, Test and Quality Control
• Developed and proven methods for Knowledge and Technology Transfer
• Complete supply solutions
The business targets a wide range of customers and operates a full assembly service across the following industries:
TV Broadcasting and Telecommunications; Performance automotive; Oil and Gas; Security and Defence; and Marine.
Annual sales in the last financial year, mainly pre-COVID, were £2.4M, generating an Adjusted EBITDA of c £320k. Sales over the previous 3 years have averaged £2M. Whilst the current year and next year are forecast with sales just below £2M due to COVID, the directors are confident of returning to pre-COVID levels by the mid / end of 2021.
The latest full year balance sheet showed net assets of close to £1M, which included significant levels of cash, and it is intended to leave the balance sheet largely as is and seek offers for 100% of the shares of the Company.
Support and Training:
There is a strong management team in place and the directors have, for several years now, been able to withdraw from all the day to day operational management and have had very “hands-off” strategic only roles, neither having more than a once monthly management meeting.
Both directors would be prepared to provide necessary hand-over support for a period up to 6 months for the new owners on terms to be agreed.