News Column

United States : WRIGHT Industries spend in Castle Microwave

May 30, 2014

Wright Industries has capitalized in Castle Microwave, the engineering and system solutions supplier, concentrating in radio frequency and microwave technologies.

The deal supports Castle Microwave s growth plan, in addition to securing a medium term succession route for Managing Director, Bernard Gaskin.

Chief Executive of Wright Industries, Craig Wright, will be Executive Chairman of Newbury-based Castle Microwave.

Craig Wright, Chief Executive of Wright Industries said: We identified Castle Microwave as a potential investment opportunity over two years ago. Since this time we have been in discussions with the owners to ensure they get the right exit value following 25 years of personal investment, while also ensuring a sustainable business plan is put in place to safeguard and maximise the company s long term potential.

Bernard Gaskin, Lynda Thomas, Finance Director and Technical Director, Mark Eidem finished a takeover of the business 14 years ago having been in the beginning established in 1981. The business has grown constantly and at present has a turnover of over 7 million and hires 20 people from its two operating sites in Newbury.

Bernard Gaskin, who will continue in his role as Managing Director, said: Over the past 14 years we have worked hard to expand the customer and principal supply base. This has led to Castle becoming one of the leading providers of high-end RF/microwave engineering and component supply chain solutions for OEMs within the UK.

"I remain firmly committed to the business but at 73 years old, it was important that I began looking for a succession strategy.

The technology advancement of wireless infrastructure continues to accelerate and our technicians and sales engineers, alongside our principal suppliers, are constantly innovating ground breaking solutions for our customers. We are confident that Wright Industries sector experience, investment and strategic focus will help take this further.

As per to Craig Wright, the RF and Microwave market is set for sustained growth in the UK and he is very pleased to be able to Invest in Castle in what is set to be an exciting stage in the businesses development.

He said: Castle supports a large customer base of global OEMs whom differentiate themselves with their ability to innovate new, marketing leading products in the field of high reliability communication and data transfer electronics. We are committed to ensuring Castle continues to deliver engineering and service excellence in the provision of manufactured components and products. The 20- strong team at Castle Microwave are highly skilled and I am looking forward to working with them as we enter the next phase of the company s growth strategy.

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Source: TendersInfo (India)

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