Company overview: The initial investment comprised of the
backing of Vanilla Electronics, a provider of supply chain solutions for
its customers, typically being specialist, high-end technology
manufacturers in a range of sectors from oil and gas to healthcare. Based
in Thetford, Norfolk, Vanilla started as a family-owned component
distributor and now offers a fully outsourced service, from conceptual
design, material procurement, kitting, manufacturing, through to
end-customer order fulfilment, product returns, warranty, repair, and
re-supply. Since this original investment, Vanilla has been rebranded as
Techpoint and the group has completed several acquisitions.
Our initial investment: Vanilla Electronics was founded
in 2002 by a father-and-son team. The father was looking to exit and sell
his stake in the business. The son, Dan, wanted to partially de-risk,
whilst also attracting a partner with the ability to assist him in
developing the business organically and, for the first time, through
acquisition.
Building value:
Since our initial investment, we have helped Techpoint (previously Vanilla Electronics) complete four acquisitions; Bela Electronic Designs, Interconics, Golledge Electronics and Gemini Tec, strengthening the Group’s technical and production capabilities in providing complex electronics design and manufacturing services. We have also encouraged and supported the management team to make several new strategic hires to help professionalise the business as it quickly expanded and became more complex. Dan has now moved into a Non-Executive role, focussing on the Group’s acquisition strategy, with Perry Duffill taking on the Group CEO role and leading an experienced senior team that is now in place at Group level. Colin Brown joined the business as Chairman in August 2023, bringing with him a wealth of expertise in the Technology sector, having spent 8 years as Managing Director of Softcat plc, a FTSE250 listed company.
Website link:
www.techpoint.co.uk
Completion: June 2020