Young manufacturing company – Hindley Circuits – celebrates securing its second business acquisition in only a matter of months.
Based in Cramlington, the firm known for providing high quality electronic Printed Circuit Board (PCB) assembly services for a range of industrial products, has taken over electronic product design and repair specialists Irridian Industrial Electronics to significantly enhance the company’s offering.
And the strategic move comes on the back of the business – that is only in its second year of trading – recently acquiring Blyth based Magnum Electronics which has since seen its founder Steve Crosby step into the role as Hindley’s Engineering Manager.
Acquiring both businesses forms part of Hindley’s ambitious plans to increase the young agile company’s turnover to £10m within its first five years of trading, something of which the firm is already on its way to achieving with its first-year annual turnover standing at £2.4m and the company recently achieving four record breaking sales over the last few months.
Irridian Industrial Electronics, based in Camperdown Industrial Estate, Newcastle – comprising a team of five electronic engineers – possesses over 30 years’ experience in working with companies in the UK, North America and Scandinavian region to provide a range of electronic services from PCB layout in Cadstar and Altium, original product design and post warranty repairs right through to product restoration and retrofitting with upgraded in-house designed hardware.
Speaking about the company’s recent acquisitions, Richard Whitehead, Chief Executive Officer at Hindley Circuits said: “We are delighted to have achieved so much in the firm’s short time. The acquisition will be pivotal in allowing Hindley to offer new product development and PCB layout services through Irridian to add significant value to our customers.
“With extensive experience Irridian’s technical ability and knowhow is exceptionally strong in their ability to design and repair industrial electronic controls. And what’s more, through bringing these two businesses closer together, our business development team have a wider offering to our target markets. It is important that we strive to deliver the very best services to our customers and through having a full end to end offering combined with post warranty support, we can add real value.”
This acquisition takes the overall employee count to 46 staff between both businesses. Hindley Circuits was formed following the purchase of the assets of Opsol UK, when its parent company A-Belco fell into administration. A group of private investors, led by Andrew Lapping of Hamilton Portfolio pooled together to form Hindley and the business has not only enjoyed a remarkable recovery its overall capability is experiencing significant transformation.
Speaking about the company’s growth, Andrew Lapping said: “The progress made by the team at Hindley has been very encouraging in such a short period and we are only really at the start of this transformation. Having seen the achievements to date, we are looking forward to continuing to make progression and be recognised as one of the region’s leading firms.”
Significant investment of £550k has already been made to train staff, as well as upgrading and improving equipment. This has seen the company invest in advanced equipment including Yamaha placement machines as well as Koh Young 3D automated inspection equipment. These investments significantly increase overall surface mount placement capacity and early fault detection within the manufacturing process.
Established in 2016 Hindley Circuits specialise in electronic assembly manufacturing providing its services to a diverse range of end markets, predominately working with companies that design and market niche products that see the value in having their electronics content made in the UK.