A Yorkshire electronics firm is set for growth following a management buyout worth £24m backed by NVM Private Equity.
The firm has backed the specialist electronics business, Easby Group - which includes Easby Electronics Limited and Delta Impact Limited - which has offices and warehouses in Richmond, North Yorkshire, and Newbury and Thatcham in Berkshire.
Easby is a 海角视频 franchised distributor and stockist of electronic components and a service provider in the electronics supply chain, and it has worked with original equipment manufacturers for more than 40 years.
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The company said its client-first approach has placed it at the forefront of development in rapid growth sectors such as EV charging solutions, EV related products, smart energy, IoT, building management solutions and 5G, resulting in significant double digit growth over the last three years.
Easby Group is actively recruiting for roles at senior management level, as well as sales and field applications engineers and a number of new jobs will also now be created at the firm’s head office in Richmond and in Newbury.
The MBO, which sees four of the Easby Group’s senior executives, Nigel Copely, Gregor Ross, Phil Clarke and Eamon Francis become shareholders, is NVM’s tenth deal from its Vintage III LP Fund.
Upon completion of the investment Jonathan Simpson-Dent will be joining the Easby Group Board as chair.
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Nigel Copely, chief executive at Easby Group said: “This is a major milestone in our journey, one that will bring additional strengths to both Easby Electronics and Delta Impact. Our growth has come from our determination to deliver a strong, technology led portfolio of franchises and services along with strong service solutions while focusing on core markets and verticals that we can bring to our established and ever-growing customer base. This deal reflects our successful engagement with both our customers and suppliers and the faultless support, drive and focus of all our Easby Group colleagues.”
Jonathan Simpson-Dent, chair at Easby Group said: “Easby and Delta Impact have both built strong positions in the rapidly evolving electronic component and supply chain market. NVM will be an excellent investment partner for the next stage of the journey and I am delighted to be joining the Easby Board to support Nigel and the leadership team to continue their impressive growth track record."
The investment was led for NVM by Mauro Biagioni, investment partner and Oliver Wildig, investment manager.
Mr Biagioni said: "Easby is a fantastic regional business operating in a sizable market estimated to be worth just under £2bn. We are hugely confident that Nigel and the team will be able to grow their market share as a result of today’s investment. The quality of relationships that the team has held with customers spans several decades and now with the right investment behind them we look forward to accelerating this growth.”