LONDON Quadrant Connections Ltd, which produces and sells electrical cable assemblies for the electronics industry and distributes connectors, cables and speech communication products in the U.K., has changed hands as the result of a management buy-in with advice from corporate finance specialists, Watersheds.
Quadrant (Radlett, England) produces cable assemblies, harnesses and panels for companies in the telecommunications, instrumentation, broadcast and defence sectors. Clients include Ericsson, Harris Broadcast, Nokia Siemens Networks, RS Components, Thales and Vodafone.
With a turnover in excess of £16.5 million (about $33million), its Radlett head office employs 130 staff. The MBI allows Anthony Sheridan, the company’s founder, to sell the business as a going concern and retire after 27 years at the helm. He will continue to provide support to the company after the business has transitioned to the new management team.
David Miller, who is leading the MBI team and has over 24 years’ experience in the industry, will take over as chairman and managing director while Mike Wood becomes sales and marketing director and Robert Mulley, commercial director.
“Quadrant is a company with a long family history and an international, particularly European, reputation for the highest quality in its manufactured products,” said Sheridan. “It was important that the company maintained its independence to ensure that standards and key business relationships built up over the years can continue and thrive. We spent some years looking for the right people with the right experience and background until we were introduced to the new team by Watersheds.”
Miller said, “Quadrant is a company with fantastic potential and we will be looking to expand into new markets. It already has offshore manufacturing sites in Czech Republic and Romania as well as shareholdings in associated companies in China and U.S. We are committed to strengthening the group as a whole and to retaining the headquarters and core manufacturing base in Radlett. Key relationships with German principals, particularly Telegärtner, will be maintained and further developed.”
Quadrant was established in 1980 by Sheridan, previously an MD of a Racal Group company, although its origins go back to 1936 when Anthony Sheridan’s father set up a business manufacturing electrical panel meters and electronic component test equipment.