Stockholm, SWEDEN - 1 October 2018 – KAMIC Group AB has signed an agreement to acquire all of the shares in UK-based SIGA (Electronics)Ltd. The sellers are Richard and Christine Thrussell.
SIGA (Electronics) Ltd is a leading British manufacturer of all types of toroidal and bobbin wound components, and associated assemblies. Established in 1961, the company has steadily expanded and now occupies its own purpose built, 15,000-sq.ft factory in Sandy, Bedfordshire, where over 50 employees are involved in the production of an increasingly wide range of high quality transformers and inductors. SIGA’s products have a number of applications and the markets served include medical, aerospace, automotive and rail. The company’s net sales amounts to approximately SEK 40 M.
Fredrik Celsing, President and CEO of KAMIC Group comments: “SIGA (Electronics) Ltd is a highly respected supplier in its product niche and the company’s management has demonstrated a solid ability to build strong and lasting customer relationships. SIGA’s customer structure also complements very well to the principal customer groups we serve in ETAL Group, our steadily growing supplier of magnetic components that today makes up the Magnetics business area in our group. SIGA is therefore a great addition to the KAMIC family of companies.”
Richard Thrussell, ex-shareholder and Managing Director at SIGA (Electronics) Ltd, will stay in a leading role in the company and work closely together with Dan Phelan, head of KAMIC Group’s business area Magnetics, of which SIGA will be part. Richard says: “The sale of the business to KAMIC should help secure a bright future for SIGA (Electronics) Ltd – with the support and opportunities available from being part of a large group.”
About Kamic Group
KAMIC Group is a corporate group consisting of some 20 operating companies active in both trade and manufacturing. Our common aim is to be a leading supplier of technical products and services in a number of well-defined product and market niches. The Group has around 675 employees in 12 countries in Northern Europe, Asia and the USA and annual sales of approximately SEK 1.8 billion. Our customers are found mainly in the manufacturing industry but also among electrical installers, construction companies and telecom service providers. www.kamicgroup.com