PHD Equity Partners (PHD) has invested in Auto Marine Cables (AMC), a family-run supplier of low-voltage cables to the automotive and marine industries, to drive its growth.
The company has a turnover of GBP14 million, which allows it to deliver on orders within short lead times, and offers cables ranging from under five metres to over six kilometres in length. The funding will allow AMC to boost its growth by expanding its product range, export trade and enable current owners, Peter and Diane Hammond to realise part of their investment in the business.
Peter Hammond, who has led the business since 1999, will stay on as Managing Director, working alongside the PHD team to support its growth.
Craig Richardson and Philip Price led the investment on behalf of PHD Equity Partners which is the private equity arm of Dow Schofield Watts. Richardson says: “With its reputation for quality, its agile approach and its ability to make ‘just in time’ deliveries, AMC has a strong competitive advantage within the industry and is an integral part of the supply chain for many of its customers.
“The company has the potential to deliver turnover of over GBP20 million on the basis of its current facilities alone and offers opportunities for growth in both new and existing markets. We look forward to working with Peter and the team to take it to the next stage of its development.”
AMC is the sixth investment from PHD’s second fund and extends the firm’s industrial manufacturing portfolio.
