3 Jul 2018 07:00
3 July 2018
APC Technology Group PLC
("APC" or the "Company")
APC Locator launches new value-added component sourcing service and delivers £1M 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 £1M bookings in its first six months of ownership which is well in excess of its acquired run rate of £1.5m per annum.
Since its acquisition by APC on 11th 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
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