A company with a Hartlepool base has agreed a £6.5m deal to take over a firm which makes power supply units.
Stadium, which runs its UK electronics arm from a plant in Brenda Road, has conditionally agreed to acquire Reading-based firm Stontronics.
A clear focus for Stadium is to continue to strengthen and build on the success of our technology products divisionCharlie Peppiatt, Stadium chief executive
Bosses say the deal is in line with Stadium’s policy of making targeted acquisitions so that it can strengthen its brand.
Stadium chief executive Charlie Peppiatt said: “A clear focus for Stadium is to continue to strengthen and build on the success of our technology products division.
“We have been targeting potential acquisitions that bring a clear value proposition; businesses that complement our existing technologies, increase our exposure to high growth markets, and improve our quality of earnings. I am pleased to say that Stontronics will deliver all of these, underpinning our ‘one-stop-shop’ integrated technology strategy and it will provide benefits through synergies, cross-selling opportunities and improved economies of scale.”
The Hartlepool Mail told last year how Stadium had invested in its town plant, after the closure of another branch in Rugby.
The Brenda Road site is responsible for integrated electronic manufacturing services (iEMS) which means it provides electronic technologies to markets.
The Stadium plant in Brenda Road is the company’s UK centre of excellence.
The firm employs just under 150 people in Hartlepool and provides electronic technologies to markets including the industrial, marine, aviation, transport infrastructure, lighting, medical, automotive, and communication sectors.
The new deal is not thought to have any jobs implications for the Hartlepool plant. But overall, the takeover deal is expected to add extra strength to the group as well as incorporating a business which has expertise in power supply solutions.
Stontronics is a company which was founded in 1988.
It is a private firm which is based in Reading and has around 30 staff on its books. It is a distributor and manufacturer of transformers, adaptors and power supply units.