Manchester cable company set for rapid expansion
Posted on 26 Nov 2019 and read 1006 times
Manchester-based Auto Marine Cables Ltd (AMC), a family-run business that manufactures low-voltage cables and cable wiring accessories for the automotive and marine industries, has received funding from Warrington-based PHD Equity Partners to help drive its growth.
This will allow the company (www.automarinecables.com
) to expand its product range and boost its export trade, while current owners Peter and Diane Hammond realise part of their investment in the business.
Mr Hammond has led the business since 1999 and will stay on as managing director, working alongside the PHD team to support the company’s continued growth.
Craig Richardson and Philip Price led the investment on behalf of PHD, which is the private equity arm of Dow Schofield Watts.
Mr Richardson said: “With its reputation for quality, its agile approach and its ability to make ‘just in time’ deliveries, AMC has a strong competitive advantage in the industry and is an integral part of the supply chain for many of its customers.
“The company has the potential to achieve a turnover of over £20 million on the basis of its current facilities alone, and there are opportunities for growth in both new and existing markets.”