Tue, 10 Jul 2018 | MBO/MBI
Camtronics Vale has completed a management buyout from its parent company PhotonStar LED Plc, with a £400,000 loan support from the Development Bank of Wales.
The company, based in Tredegar Business Park with a workforce of 31 individuals, operates in conjunction with those in the medical, military, industrial and LED lighting industries, and provides a variety of electronic manufacturing services.
Some of its services include surface mount (SMT) assembly, through-hole assembly, automatic optical inspection (AOI), box build, programming and testing.
Managing director Paul Macleur led the senior management team to purchase the £2 million turnover business from the parent company.
He said: “We are delighted to have secured this investment from the Development Bank of Wales. It puts Camtronics Vale in an excellent position to exploit our extensive growth potential in this, our 25th anniversary year of operations.
“We are looking forward to welcoming new customers whilst maintaining the levels of service and support that our existing customers, many of whom have been with us for more than ten years, value so highly.”
Camtronics Vale was first founded in 1993 as Novaspec, before its acquisition by PhotonStar in 2011.
Steve Galvin, the senior investment executive at the Development Bank of Wales, said: “Camtronics is a perfect fit for the Wales Management Succession Fund. The purpose of the fund is to support succession planning and provide funding for management teams to buy into the business and also suit owners looking for an exit strategy.
“Our investment in Camtronics will secure the future of the business in Blaenau Gwent. They have significant growth potential and we wish them every success.”
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