PCB manufacturer in ?1.34m management buyout

PCB manufacturer in ?1.34m management buyout
Alex Mayhew-Smith
The director of Microtech, Bill Thompson, has led a ?1.34m management buy-out of the PCB manufacturer from parent company Intelek.
The division, which is to be renamed GW171, made a loss of ?1m in the last financial year but is set to benefit from recent strategic initiatives, said Thompson. “Although the PCB market has been experiencing over supply, which has pushed prices down, we are strategically set to be an aggressive competitor,” he said.
GW171 has already won several contracts in Scandinavia and other areas of Europe, said Thompson. Intelek received ?200,000 in cash for Microtech and ?950,000 in preference shares in the new company, as well as a 12.5 per cent stake.
The company will target the more lucrative end of the European PCB market, offering multi-layer boards. The firm said it will also be able to produce fast turnaround prototype boards.

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