Electronics Production | August 14, 2007
Quadrant changes owner conditions
Quadrant Connections Ltd., an international group based in Radlett, specialising in the production and sale of electrical cable assemblies for the electronics industry and the UK distribution of connectors, cables and speech communication products, announces the completion of an MBI by corporate finance specialists Watersheds.
Quadrant produces cable assemblies, harnesses and panels for many blue-chip companies in the telecomms, instrumentation, broadcast and defence sectors. Clients include Ericsson, Harris Broadcast, Nokia Siemens Networks, RS Components, Thales and Vodafone. With a turnover in excess of EUR 25 million (GBP 16.5 million), its Radlett head office employs 130 staff. The MBI will allow Anthony Sheridan, the Company's founder, to sell the business as a going concern and retire after 27 years at the helm. He will continue to provide on-going support to the Company after the business has transitioned to the new management team. David Miller is leading the MBI team and has over 24 years' experience in the industry; he will take over as Chairman and MD at Quadrant. Commenting on the deal Anthony Sheridan says: “Quadrant is a company with a long family history and an international, particularly European, reputation for the highest quality in its manufactured products. It was important that the company maintained its independence to ensure that standards and key business relationships built up over the years can continue and thrive. We spent some years looking for the right people with the right experience and background until we were introduced to the new team by Watersheds." David Miller comments: “Quadrant is a company with fantastic potential and we will be looking to expand into new markets. It already has offshore manufacturing sites in Czech Republic and Romania as well as shareholdings in associated companies in China and USA. We are committed to strengthening the Group as a whole and to retaining the headquarters and core manufacturing base in Radlett. Key relationships with German principals, particularly Telegärtner, will be maintained and further developed."