Birmingham-based SKN Electronics is acquired by The Pexion Group
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KBS Corporate has advised on the acquisition of Birmingham-based SKN Electronics Limited, a global electronics manufacturer and surface mount printed circuit board assembly specialist.
Founded in 1986 and with 30 years’ experience of the industry, SKN Electronics has been able to build a strong reputation and secure a number of global contracts throughout its trading history.
Owned by the Ahmed family from inception, the sale of SKN has enabled Safir and Khurshid Ahmed to take significant steps towards retirement. Other family members still occupy key positions within the business and will remain in their roles post-acquisition. The company will also continue to operate from the premises owned by the exiting shareholders.
The opportunity to acquire SKN Electronics generated widespread interest from both trade buyers and private investors.
The eventual acquirer, The Pexion Group, is a leading engineering service provider specialising in design and manufacture solutions. From aerospace and defence to the construction and marine industry, The Pexion Group is trusted by many global OEMs and tier two suppliers.
With The Pexion Group looking to acquire an electronics specialist in order to expand service offering, SKN Electronics proved to be the perfect fit.
Guy Haynes, Corporate Director at KBS Corporate, advised on the deal and commented, “Of all the potential buyers that we spoke to, there was a clear fit between SKN Electronics and The Pexion Group, and this transaction has the potential to be of great benefit to both parties.
“SKN is a true family business and the family will continue to be represented within the business going forward, as well as retaining ownership of the outstanding purpose-built premises. KBS Corporate wishes the exiting shareholders well in their retirement, and the companies all the best in their quest for growth.”