Wright Industries has completed its third deal in 18 months with the acquisition of a Berkshire engineering company
The Burton-based investor has bought Castle Microwave, an engineering and system product supplier which specialises in radio frequency and microwave technologies.
The deal follows the buyout of Custom Interconnect, an Andover-based electronic manufacturing firm, , an electronic supply chain specialist based in Chippenham.
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Craig Wright, chief executive of Wright Industries, will become executive chairman of Newbury-based Castle Microwave following the deal.
He said: "We identified Castle Microwave as a potential investment opportunity over two years ago.
"Since this time, we have been in discussions with the owners to ensure they get the right exit value following 25 years of personal investment while also ensuring a sustainable business plan is put in place to safeguard and maximise the company's long term potential."
Castle Microwave's management team of Bernard Gaskin, Lynda Thomas and Mark Eidem completed a buyout of the 33-year-old business 14 years ago.
It now has turnover of more than £7 million and employs 20 people from its two operating sites with clients in the space, defence, security and commercial data communications markets.
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It is especially active in the 海角视频 telecommunications sector, providing engineering services and components for the latest wave of the 4G infrastructure upgrade.
Wright Industries will now work with the existing management team to continue to expand the business base and the company's service and product offerings.
Following the investment, all the owners have retained a shareholding and remain as part of the company's management team.
Bernard Gaskin, who will remain in post as managing director, said: "Over the past 14 years, we have worked hard to expand the customer and principal supply base.
"This has led to Castle becoming one of the leading independent premium brand in the provision of high-end RF/microwave engineering and component supply chain solutions for original equipment manufacturers within the 海角视频.
"I remain firmly committed to the business but, at 73 years old, it was important that I began looking for a succession strategy.
"We are confident that Wright Industries' sector experience, investment and strategic focus will help take this further."
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Legal advice was provided by the Birmingham office of Gateley, with BDO providing deal origination advisory.
Lloyds Bank Commercial Finance in Birmingham provided an asset based-finance facility to support the acquisition.