Solid State, the AIM listed supplier of specialist industrial/ruggedised computers, electronic components, antennas, microwave systems and battery power solutions to the electronics market, has completed the acquisition of Ginsbury Electronics in a deal worth some £2.125m. The agreement closed on April 1st, 2015.
Ginsbury is a specialist distributor of displays and power components that has been established for more than 30 years. The company’s strong supplier portfolio in these fields complements and strengthens the product offering from Solid State plc, and boosts the team of highly experienced engineers within the Group, providing proficient, dedicated technical training and support to customers throughout their design life-cycle.
The Ginsbury team will continue to be based in Rochester, Kent, operating alongside Solid State Supplies and Steatite, the two principle trading companies of Solid State plc, which are located in Redditch, Worcestershire.
Like Solid State, Ginsbury is qualified to the AS9120 standard (incorporating ISO9001), enabling the newly combined company to continue with immediate effect as a stockist distributor to the military and aerospace industries, which are key markets for the Group.
“There are many parallels between our companies in terms of the products we offer and our focus on supporting customers through technical know-how and design consultancy,” commented John Macmichael, managing director at Solid State Supplies. “We are particularly pleased to add Ginsbury’s expertise in displays to our business; it’s an area where we see much potential for growth.”
Ginsbury’s portfolio includes display units, monitors, panels, digital signage and power components from leading manufacturers. Pending the completion of management accounts for the financial year ending March 31st 2015, Ginsbury’s turnover is £3.9m.