Hartlepool-based Stadium Group plc, a supplier of wireless solutions, power supplies and electronic assemblies, has acquired Essex-based Cable Power Ltd for a fee of £750k.
For the year ended 31 December 2016, the Colchester manufacturer and distributor of bespoke cable and power products recorded sales of circa £0.7m and profit before interest and tax of circa £0.1m.
Cable Power’s customers include RS Components, Rapid Electronics, Farnell, CPC and Raspberry Pi, with whom it has exclusivity for several accessories, including HDMI cables, power connectors and other accessory bundles.
The business will join Stadium’s Power division, Stadium Stontronics, which announced in March 2016 that it had become the only approved external power supply manufacturer for the Raspberry Pi 3.
Charlie Peppiatt, Chief Executive Officer, explained: “The acquisition of Cable Power brings complementary bolt-on products to our portfolio that enhance our overall offering, primarily in the power products space.
“There is a great deal of synergy between the product ranges of our power division, Stadium Stontronics, and Cable Power, and we already work closely with many of the same customers.
“Bringing together the expertise of Cable Power and Stontronics places Stadium in a unique position to offer a highly compelling exclusively approved ‘one-stop-shop’ solution for the Single Board Computer sector.“
Stadium Group preliminary results for the year ended 31 December 2016 will be announced on Tuesday, 14 March 2017.
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