Maven Capital Partners has led a £4.5 million management buy-in of CB Technology Limited (CB), a Livingston-based contract electronics manufacturer, writes Simon Bain.
Maven said CB had "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 deal follows Maven's recent investments in Endura, the cyclewear group also in Livingston, and Lanarkshire-based Crawford Scientific.
The buy-in team is led by John Cameron, formerly at GE & UTC Technologies and most recently commercial director at Finnish group Marioff, where he headed a team of over 200 and a business with £80m annual revenues. He is joined by finance director Graham Scott, previously chief financial officer at Memex. The business will be chaired by Laurence Ormerod, who has significant experience of successfully growing a number of SMEs.
Maven said it was retaining the operational management team which had 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. Maven's backing would allow the company to supplement this team further and establish a dedicated sales and marketing function to support future business development.
Mr Cameron said: "Our business possesses unique expertise and skills, has an extremely strong reputation and we see huge potential for growth."
David Milroy, investment director at Maven, said: "We believe the excellent team we have assembled can further leverage CB's exceptional reputation to scale the business."
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