Castle Microwave, Newbury, has been acquired by Wright Industries, the Birmingham-based manufacturing investment group. The latter’s chief executive, Craig Wright, will become the executive chairman of the Berkshire business, which specialises in radio-frequency and microwave technologies: it is providing engineering services and components for the latest wave of the 4G infrastructure upgrade.
Mr Wright said: “We identified Castle Microwave as a potential investment opportunity over two years ago. Since then, we have been in discussions with the owners to ensure that they get the right exit value following 25 years of personal investment, while also ensuring that a sustainable business plan is put in place to safeguard and maximise the company’s long-term potential.”
Managing director Bernard Gaskin, finance director Lynda Thomas and technical director Mark Eidem completed a buy-out of Castle Microwave 14 years ago. The company has grown consistently; it now has a turnover of more than £7 million and employs 20 people at its two operating sites in Newbury.