Prism Electronics announce new owners
- Credit: Prism Electronics
Electronics manufacturer Prism Electronics, have announced they have new owners of FC Group Invest Ltd.
With the co-founders and directors of the St Ives-based company retiring, ownership has been passed to the Swedish-UK investors who aim to continue the manufacturer’s sustained growth.
David Aspinall, co-founder and current Managing Director of Prism Electronics said: “As part of our succession planning, we wanted to ensure Prism’s future would be in good hands.
“We’ve taken our time to identify FC Group Invest as the right people to take the business forward.”
Prism Electronics was established in 1991 when David and fellow electronics expert, Richard Walton, formed the company through a management buy-out of the manufacturing division of their then employer.
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Then in its infancy, Prism Electronics has since developed to be one of the leading names in UK contract electronics manufacturing, delivering printed circuit board assemblies for many specialist and high-tech products.
David said: “We’re confident Prism will prosper with the support of FC Group Invest, who have exciting plans for the future.
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“The fact that Prism has continued to grow during a global pandemic is testament to the quality of our services and dedication of our team.”
Based in Sweden and the UK, new owners FC Group Invest have extensive experience in the mergers and acquisitions of profitable businesses and aim to ensure the company continues its sustained growth.
Fredrik Johansson, co-founder of FC Group Invest, said: “My colleagues and I are delighted to have acquired a company with such a highly skilled workforce and first-class reputation.
“Our business plan is about continuity and stability, followed by development and growth.”
Directors David Aspinall, Richard Walton and Richard Vyse will all remain with the business for a transition period to ensure a smooth handover.
In 2017, the Prism Electronics team was joined by Dave Dawson whose 30-year experience in semiconductor manufacturing led to him becoming General Manager in 2020.
Dave will continue to lead the business day-to-day and work with the new owners to ensure it thrives.
Dave said: “It’s clear FC Group Invest share our pride in the manufacturing and engineering excellence we deliver to our partners.
“I strongly believe our team can look forward to very exciting and positive times ahead.”