Managment buy-out at Basingstoke international electronics solutions firm (From Hampshire Chronicle)
When news happens, text CHRON and your photos or videos to 80360. Or contact us by email & phone.
Managment buy-out at Basingstoke international electronics solutions firm
THERE has been a management buy-out at Basingstoke-based global electronics solutions provider GTK.
The firm, which has a 10,000 sq ft, custom-designed facility at Antura, in Bond Close, in Kingsland Business Park, provides design, procurement and manufacturing services of electronic components for customers in the UK, and internationally in sectors such as precision instrumentation, defence-security and contract equipment manufacturing.
Some of GTK’s work in optoelectronics includes providing LCDs used in a wide range of products such as smart meters, in-car entertainment systems and secure entry systems.
The management buy-out team has worked together at GTK UK for two-and-a-half-years and is made up of managing director John Morath, who has been with the company for 20 years, operations director Steve Robinson, sales director Julie Arrowsmith, and finance director Fred Edwards.
The deal has provided the business with a funding structure to facilitate the exit of George Homes, the original founder who is retiring, and will help to support the management team’s future growth strategy.
GTK employs 65 people in its Basingstoke and Taiwan offices. For the past four years, it has achieved a 17 per cent year-on-year increase in revenues with a turnover of £9.4million for 2013.
The deal was completed with the support of YFM Equity Partners, assisted by private equity specialist, Roger Gregory, of Pitmans LLP.
Mr Morath said: “Our customers value our ability to design the products they need in an innovative and timely way. With YFM Equity Partner’s support, we will continue to develop bespoke products for our clients as well as offering a full turn-key solution.
“We expect to see continued demand for our capabilities in the UK and internationally.”
Commenting on the deal, Mr Gregory, who lives in Chineham, said: “I am delighted to have been involved with such an experienced team who will doubtless be in an even better position to drive the business forward given YFM's backing.
“It's great to be able to support a local business, especially one whose headquarters are so close to where I live.”
Comments are closed on this article.