Maven leads £4.5 million MBI of electronics manufacturer CB Technology
Maven has led the £4.5 million Management Buy-In of CB Technology Limited, an established contract electronics manufacturer with a focus on complex manufacturing and testing for deployment in harsh environments.
Maven has assembled a strong buy-in team for CB led by John Cameron, formerly at GE & UTC Technologies and who most recently served as Commercial Director at Finnish-based Marioff, where he headed-up a team of over 200 people with annual revenues in excess of €100 million. Graham Scott, previously CFO of Memex, a SAS Group company, has also joined the business as FD. The business will be chaired by Laurence Ormerod who has significant experience of successfully growing a number of SMEs.
The operational management team, which will remain in the business has played an integral part in the success of CB to date, helping it to achieve year-on-year growth since it was established in 1999. Funding from Maven will allow the company to supplement this team further and establish a dedicated sales and marketing function to support future business development.
Operating from a state of the art facility in Livingston, CB has a strong customer base and has an established track record of delivering technically challenging projects for a range of blue chip companies and sectors.
The transaction was Maven’s final Private Equity transaction of a very successful 2014. During the year Maven invested in 10 deals including two transactions led by the Edinburgh team in cycling apparel brand Endura and leading supplier of scientific products and services Crawford Scientific.
David Milroy, Investment Director at Maven, said: "CB has, for the last 15 years, supplied a range of blue chip customers with complex electronics that, critically, must function reliably under extremes of temperature, pressure and vibration. CB has consistently delivered and is clearly trusted by its customers. We believe the excellent team we have assembled can further leverage CB’s exceptional reputation to scale the business and we are very much looking forward to working with John and his team.”
John Cameron, Managing Director at CB, added: "I am excited at the prospect of working alongside Graham, Laurence, Maven and the skilled workforce at CB to deliver the strategy the team has developed over the past few months. Our business possesses unique expertise and skills, has an extremely strong reputation and we see huge potential for growth.”