APC Technology Group PLC APC Locator
03 July 2018 - 4:00PM
RNS Non-Regulatory
TIDMAPC
APC Technology Group PLC
03 July 2018
3 July 2018
APC Technology Group PLC
("APC" or the "Company")
APC Locator launches new value-added component sourcing service
and delivers GBP1M Bookings in first six months of ownership by
APC
APC Technology Group PLC (AIM: APC), the design, specification
and distributor of specialist technologies and electronic
components, has launched a new value-added component sourcing and
processing service through its recent acquisition, First Byte Micro
Ltd ("FBM"). Acquired in January 2018, FBM has integrated
successfully into the enlarged Group, expanded its offering and has
delivered GBP1M bookings in its first six months of ownership which
is well in excess of its acquired run rate of GBP1.5m per
annum.
Since its acquisition by APC on 11(th) January 2018, the
franchised and independent component sourcing company has been
rebranded as APC Locator. The new value-added component service,
delivered through APC Locator, enables additional processes such as
tape and reeling, laser reballing and alloy conversion for military
use, to be performed on components supplied by APC. This provides
APC customers with a more finished electronic component from a
single vendor.
Following the integration of FBM staff into APC's
long-established electronic components division, revenue growth for
APC Locator has been generated through opportunities within APC's
existing high reliability and RF and Microwave component client
base, in addition to an increase in sales from FBM's existing
industrial and manufacturing customers.
Peter Greenslade, APC Locator Sales Manager, said:
"The acquisition by APC Technology Group PLC has enabled us to
achieve significant business growth and expand our service
offering. By leveraging APC's existing customer relationships we
have been able to sell additional products to APC's customers and
provide APC with new revenue opportunities within FBM's historic
client base through the addition of new value-added component
services. As co-owner of FBM, I feel the acquisition has been a
very positive step for us, providing access to a wider sales team
and the professional Group resources of marketing, internal sales
administration, logistics and finance. Within the first six months
we have expanded our sales team and added a dedicated components
buyer, providing us with a solid platform for further growth."
Richard Hodgson, CEO of APC Technology Group PLC, commented:
"We are concentrating on three main growth drivers: growth
through increased bookings from our existing technologies; growth
through the signing of new complementary product lines; and growth
through targeted bolt-on acquisitions. APC Locator's booking
results show an important increase in revenue for the new
acquisition, which is attributable to the tremendous positivity of
the acquired FBM team and our ability to integrate new companies
into the Group. It also demonstrates the success of the strategic
choice of FBM as a company whose product range and client base
complement and extend our existing offering. The smooth integration
of FBM has enabled the Locator team, and the wider Group sales
force, to focus on driving sales. We continue to target other
suitable acquisition opportunities".
Enquiries:
APC Technology Group PLC +44 (0) 330 313 3220
Richard Hodgson, Chief Executive www.apcplc.com
Michael Thompson, Finance Director
Stockdale Securities Limited (Nominated Adviser and Broker) +44
(0)20 7601 6100
Mark Brown / Antonio Bossi / Edward Thomas
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END
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