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Electronic assembly manufacturing sub-contractor

£2m to £5m
Engineering, Manufacturing, Technology
UK Wide, Outside UK
29 October 2020

Business description

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.

Providing UK & Global Procurement Services, based on an Audited Secured Supply Chain, it specifically offers Sub-Micron X-RAY Inspection (Digital & Oblique Views), SMT & PTH Assembly (Small, Medium & Volume Production), Flexi-Rigid and Flexi Circuits Assemblies, Package on Package (PoP) Assemblies, μBGA/BGA Reballing and repairs and Bare Boards with Impedance Control & 3-Axis Milling.

It has used a pricing module since its’ inception that has been developed 

Employing 30 staff and based in the Home Counties, it occupies a well kitted-out factory unit of some 5100 sq. ft. and has up-to-date equipment including, several Pick & Place lines with inline Yestek AOI’s. Flow and selective soldering capabilities and Dage Xray inspection. The factory unit also has office accommodation comprising some 500 sq. ft.

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.

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.

Reason for sale


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