RJD Partners, a UK lower middle market private equity investor, has backed the buyout of family-owned Chemigraphic, an electronic manufacturing services provider in the UK.
Crawley-based Chemigraphic was founded in 1972 by Frank and Julia Graham, a husband and wife team, who held the respective roles of chief executive and finance director and are now retiring.
The buyout is being led by their sons, Paul and Neil Graham, who between them have worked in the business for over 29 years, together with a new chief executive Bob Adams. Adams has previously held senior level management positions at various electronics businesses, both large and small, including Thales and EADS.
Operating from a 40,000 square foot purpose built office and factory complex, Chemigraphic designs, assembles and installs complex printed circuit board based components and provides a number of related services including design, full assembly and testing and final delivery.
The company employs over 125 staff and delivered an annual turnover in excess of GBP17m in the year to 31 March 2010.
Alex Hay, investment director, RJD Partners, says: “We are very pleased to have completed the investment in Chemigraphic. RJD Partners has a successful track record of supporting buyouts of family businesses and experience of partnering with the next generation as part of the investment approach. Going forward management will have our support to maintain the qualities that have made Chemigraphic so successful, whilst at the same time building the business with new clients in related areas.”
Adams says: “I have been working with Neil and Paul Graham for some time in preparation for this buyout. Chemigraphic has an excellent foundation of strong customer relationships and a reputation for quality. We are determined to build on this over the coming years as the company grows to become an important player in the UK specialist electronics sector. In addition we are very pleased to have teamed up with RJD Partners in carrying out this buyout and look forward to working closely with their team in continuing the success of Chemigraphic.”
