Basingstoke’s EC Electronics advised on investment by Quantuma
Basingstoke’s EC Electronics are set to expand into European markets having secured funding from Rockpool Investments.
EC Electronics received guidance from Southampton based, Quantuma.
The Quantuma Corporate Finance team was headed by Director Phillipa Robinson, who was aided by Manager Calvin Bond. Quantuma helped EC Electronics develop its business plan to secure the investment, before structuring and delivering the deal.
Quantuma stated the funding will "support EC Electronics’ mission to become one of the biggest players in the European electronic manufacturing services market in the next two years."
Phillipa Robinson continued: “This is a pivotal moment for EC Electronics that will catapult them into a sustained period of impressive growth and market dominance.
“We worked closely with the management team to secure the funding package, ensuring the fulfilment of the company’s expansion strategy. It was a pleasure to help deliver this funding for EC Electronics and I’m excited to see their success off the back of this investment.”
Established in 1984, EC Electronics provides electronics manufacturing services to product innovators and original equipment manufacturers (OEMs) in both the UK and Europe.
It manufactures a range of electronic-based products and sub-assemblies to clients in a number of sectors, including, connected technology, medical devices, electric vehicles, building controls and environmental monitoring.
Phil Simmonds, CEO at EC Electronics, said: “We’re looking at a bright future ahead, and the funding from Rockpool will allow the company to grow on a scale it hasn’t seen before.
“The management team have been exceptional and, with this funding, I can now move away from the day-to-day operations to focus on the overall strategy of the company. We look forward to benefitting from Quantuma’s advice in the future as the business expands.”
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Rockpool’s investment will fund EC Electronics’ buy-and-build strategy, supporting the three acquisitions it has made so far.
The deal will see Tony Clarkson joining the board as Non-Executive Chairman. Tony brings proven experience in private equity-backed manufacturing businesses and will work alongside EC Electronics’ management team of CEO Phil Simmonds, CTO Bill Green, COO Lee Pope and CSO Greg Faughnan, along with newly appointed CFO Jez Quigg.
Quantuma provided EC Electronics with M&A advisory, while Penningtons Manches Cooper led legal advisory. Rockpool was advised by Taylor Wessing (legal), RSM (financial and tax), Lincoln International (M&A), Continuum (organisational), RPL (commercial) and Claritas (tax structuring).
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Featured image: iStock
