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Electronic supply chain specialist Pure Electronics has secured a cash injection from manufacturing investor Wright Industries.
The Chippenham-based business has secured the investment to support its growth as a result of increased demand for its products. It said the backing of Wright Industries would allow it to realise its potential.
Pure Electronics added the timing of the investment comes as it is seeing growth as a result of the increase demand for electronic manufacturing skills and high technology capacity/capability from the UK.
As part of the investment, Craig Wright, the chairman of Burton on Trent-based Wright Industries, will join the board of Pure Electronics as chairman.
Wright Industries said the recent sale of Exception, one of the largest printed circuit boards (PCB) suppliers in the UK, to a Chinese company would provide more opportunities for Pure Electronics and other UK-owned PCB companies.
It added the deal “shuts a significant sales channel” for international suppliers into the UK and European market and that Pure is “able to plug this gap immediately”.
Pure Electronics managing director Justin Olejnik said: “Since its inception almost 12 months ago, Pure has developed a reputation as one of the UK’s fast growing electronics supply chain businesses, with its global supply chain operations recently being instrumental in gaining further significant contracts in the secure communications sectors.
“With the addition of Craig to our board and management team, we have a robust offering, backed by considerable experience, that will help us realise the potential the business has.”
Craig Wright added: “Pure Electronics fits our key criteria as a supplier of mission critical PCB electronic component and related technologies at lowest total cost through sustainable and ethical international supply chain solutions.
“We believe there are significant opportunities within the PCB market from which Pure is set to support existing and new customers through ensuring a long term sustainable and reputable solution.”
This is the second deal in as many months for Wright Industries, which invested in Andover-based Custom Interconnect Ltd in December.