RE: Gross profit up 150%18 Apr 2024 10:29
Ryan Maughan was the founder and managing director of a business called Avid Technology Group ltd, he started the business in 2005 developing control systems and then moved into electric vehicle powertrain components and systems.
In 2012 a battery systems business called Hyperdrive span out of AVID, they also sold the drive by wire sensor technology business to German automotive tier 1 Continental.
In 2017 they partnered with GKN to take over an electric motor business called EVO [LINK REMOVED]
In 2021 AVID (and also Hyperdrive) was sold to an American business called Turntide, that was backed by some celebrities like Bill Gates and Robert Downey jr. [LINK REMOVED]
You can get a sense for what he has done from his website and podcast: [LINK REMOVED]
If you have watched the companies excellent recent promotional videos and some of those podcasts you will notice that he is the narrator.
He’s been working with Transense for a couple of years part time since selling AVID, so moving to full time shows there is potential. He’s also bought shares steadily.
Great experiences scaling up, M&A, industry connections and more to bring to a company like TRT