© Hindley Circuits - Steve Crosby (sitting) with Richard Whitehead Electronics Production | March 16, 2018
Hindley Circuits on the move – expands with first acquisition
Magnum Electronics becomes the first ever acquisition by Hindley Circuits since its inception.
In line with its rather ambitious growth plans, Cramlington-based electronic assembly specialist, Hindley Circuits, is acquiring fellow Northumberland company, Magnum Electronics. Magnum Electronics was established 10 years ago by managing director, Steve Crosby, who now becomes engineering manager at the rapidly expanding Hindley, which employs 40 staff. In his new role he will oversee site infrastructure, process engineering and maintenance, a press release reads. Steve started Magnum following a 30 year career with TT Electronics as part of its electronics assembly division in Blyth, which was formerly the Welwyn Electronics plant. “We are delighted by the acquisition of Magnum and especially Steve, a top class electronics specialist I have long admired. We also welcome his son Ben and their customers, who have received great service from Magnum over many years,” says Richard Whitehead, CEO of Hindley Circuits, in the release. Magnum is the first acquisition made by Hindley and is part of a growth strategy that includes significant and ongoing investment in people, technology and equipment which, in the last 12 months, stands at GBP 550’000. Backed by private investors led by Andrew Lapping of Hamilton Portfolio, Hindley Circuits has already doubled turnover in a year. “Hindley has very ambitious growth plans and so the timing of the acquisition is perfect. From a personal perspective it will be exciting to be part of a business that is committed to continual investment in the latest technology and processes,” Steve Crosby says in the release. In an emailed statement to evertiq, Mr. Whitehead details that the main purpose in buying Magnum was tactically to strengthen its Senior team. “Steve Crosby is an expert in his field, we have worked together before at TT in the late 90’s. The additional customer base and equipment was an additional benefit to be honest. A number of the enhancements we have made to the team here are people I have worked with in the past, it means I know what to expect & hopefully get the best out of them,” Mr. Whitehead told evertiq. In regards to whether the acquisition opens up business in new sectors Mr. Whitehead says that is rather a fortification tactic to ensure this team has all the right skills to continue to move forward at a reasonable pace. The Magnum facility will be closed and all the assets and staff are moving to the Hindley site in Cramlington. Some of the equipment will be integrated there, however most will be resold. Considering the fact that Hindley Circuits is a rather young company – only 17 months old – and had already doubled in size prior to this deal, the question is what else can we expect from the EMS provider? “All I can share at this point is we keep pushing and looking for opportunities to either grow directly or improve the breadth of our service offering, we have great forward thinking team of Directors,” Mr. Whitehead tells evertiq. “We firmly believe with the combination of skills, our tactics and approach to the customer base that there is space for another small to mid- size EMS provider in the UK & we intend to fulfil that gap.”
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