LONDON GSPK Ltd has sold its printed circuit board manufacturing subsidiary GSPK Circuits Ltd to the TCL group, the Ware , England-based company that already is a major supplier of PCBs through operating companies Daleba Electronics Ltd and DK Thermal.
The companies say the move makes the combined operation one of the top three PCB suppliers in the U.K. in what is a "very difficult" marketplace.
Founded in 1972 by Graham Keddie, GSPK Circuits has a major manufacturing presence in Knaresborough, Yorkshire and employs about 60 people.
"This is a major opportunity for GSPK Circuits and it secures employment for our dedicated staff," Steve Lloyd, managing director of GSPK Circuits told EE Times Europe. Lloyd would not disclose the value of the deal, but said he and Martin Gibson, operations director at GSPK Circuits, retained their stakes and will remain minority shareholders in the operation.
GSPK Circuits will give TCL (Tappenden & Co Ltd) a significant foothold in U.K. manufacturing, Lloyd said. Almost all of TCL's PCB and thermal circuit manufacturing is currently carried out in China.
He added the move also gives TCL a significantly expanded presence in Europe, since GSPK has targeted expansion both in the U.K. and Europe.
GSPK Circuits has expertise in the manufacture of Through Hole Plate (THP) PCBs, thermal management, specialist boards and the newly developed Reflecta-finish and Additive Technologies. About 40 percent of manufacture is currently being exported around the world.
"In retaining the exclusive use of the GSPK Circuits brand name, this development will not only allow us to support our existing customer base but will help us to attract global players with a need for excellent short term lead times and robust volume PCB supply which we will now be able to source through Daleba,Ē Lloyd added.
Asked about the reason and timing for the move, Lloyd said it reflects Keddie's decision at 68 to take a back seat, and focus on his smaller subsidiaries within GSPK Ltd, including GSPK Design.
Last July, another group within GSPK Ltd, the manufacturing services division GSPK Electronics, was forced into administration when it was dragged down by a large unpaid debt from a customer in Europe. It was eventually bought by Icon Electronics in a management buy-out.