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Gresham buys Relec for $4m to boost its presence and capacity

02 December, 2020

Gresham Worldwide has acquired the Dorset-based power electronics and display technology specialist, Relec Electronics, for around $4m, with potential performance-related payments of up to $665,000. Gresham plans to combine Relec with its Salisbury-based subsidiary Gresham Power Electronics, which designs and manufactures power electronics for the industrial and naval markets, with the aim of boosting its presence in the UK and Europe, and augmenting its manufacturing base and specialist product lines.

“Bringing these operations together significantly increases the Gresham Worldwide footprint in the UK and Europe, while broadening its technology portfolio with high-quality power conversion and display product offerings,” says Gresham Power Electronics’ managing director, Karen Jay. “The combination of Relec with Gresham Power Electronics provides scale, technical capabilities, and technology solutions to drive growth in the UK and Europe.”

“We will move immediately to make engineering, sales and facility resources available to enable Relec to capitalise on near-term opportunities to drive business growth,” adds Gresham Worldwide’s chief operating officer, Timothy Long.

Relec, founded in 1978, recorded revenues of around $7m in the year to February 2020. The Covid-19 pandemic resulted in revenues sliding by about 20% in the six months to the end of August, 2020. However, based on a backlog of orders, Gresham believes the drop will be short-lived and that, starting in 2021, Relec will be positioned for solid, long-term financial performance.

Relec offers power supplies, DC-DC converters, EMC filters and display technologies to the industrial, rail and electronics sectors, with customers in the UK, Europe, Asia, and the US. Managing director Peter Lappin says that joining forces with Gresham “will provide Relec with additional resources to offer more value-added services to our blue-chip customer base while increasing sales coverage and market reach for our innovative supply chain partners. Working with other Gresham Worldwide companies will also create opportunities for Relec to increase sales of its innovative power and display technology solutions into defence, marine, aerospace and telecommunications markets.”

Gresham Power Electronics and Relec will continue to operate as standalone businesses in the UK, with a joint management committee with representatives from both operations, and Gresham Worldwide. Peter Lappin will remain as managing director and the Relec management team has committed to staying with the company.

Relec’s product portfolio includes high-voltage DC power supplies

Gresham is owned by US-based DPW Holdings. Its subsidiaries include Microphase Corporation and Enertec Systems 2001, as well as Gresham Power Electronics and now Relec.

Relec Electronics: Twitter  LinkedIn

Gresham Power Electronics: Twitter  LinkedIn

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