Total consideration of up to £2.5 million supported by £5.9 million fundraising
Tewkesbury, UK: Trackwise Designs has acquired Stevenage Circuits Ltd, a UK-based designer and manufacturer of short flex and rigid printed circuit boards, for up to £2.5 million. The deal enables Trackwise to increase production of its Improved Harness Technology™ (IHT), as well as expand its customer base and boost technical, sales, and operational expertise.
Trackwise’s IHT is based on a proprietary roll-to-roll manufacturing process that eliminates traditional size limitations for flexible printed circuits (FPC). IHT enables Trackwise to produce multilayer FPCs of any length for demanding applications such as aircraft, industrial, or automotive wiring, as well as medical devices, entertainment equipment, scientific instruments and consumer products.
The remaining proceeds of the £5.9 million fundraising will be used to fund additional capacity and capability as well as capital to support growth initiatives including the continued development of Trackwise’s intellectual property and knowhow.
Philip Johnston, CEO of Trackwise, commented, “We are pleased by the significant support shown by existing and new investors. The acquisition of SCL extends our manufacturing capabilities, providing us with the capacity to deliver IHT series production, while diversifying our revenue streams and customer base. The SCL team brings additional depth to our technical, sales and operational expertise and we look forward to welcoming them to Trackwise.”