Specialist electronic manufacturing services provider, AWS Group, has secured a 5.5m equity investment from Barclays Ventures alongside a banking package from Yorkshire Bank. Backed by this finance package, the management team plans to double the current turnover to over 80 million within the next three years through organic growth and further acquisitions. Barclays Ventures also introduced John Weston, formerly CEO of British Aerospace, who will join the board, bringing his industry expertise and contacts to bear in his role as non executive chairman.
Director with Yorkshire Banks specialist and acquisition finance team in Birmingham,
Steve Drury, said: While some EMS suppliers operating in competitive areas such as consumer electronics have withdrawn from the UK, AWS has focused on more complex, low volume products such as military and aerospace products, industrial scanners, medical devices, advanced security systems and specialist automotive products – all profitable, high growth areas. The company has excellent potential for further expansion. This deal allows AWS to cement their position in the UK market.