Product category:
Plugs and Sockets
News Release from: Flightspares Electronics
Edited by the Electronicstalk Editorial
Team on 13 January 2006
MBO resurrects an old favourite
One of the most famous names in UK connector distribution - Flightspares Electronics - has re-emerged following a management buyout of the electromechanical division of Compstock Electronics.
One of the most famous names on the UK connector distribution scene - Flightspares Electronics - has re-emerged following a management buyout of the electromechanical division of Compstock Electronics from parent company, UMECO The MBO has been completed by Paul Green and Maurice Lee, who previously were respectively Marketing Director and Finance and Operations Director of Compstock Electronics
This article was originally published on Electronicstalk on 24 Apr 2002 at 8.00am (UK)
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The management team is augmented by industry veteran Bill McKnight, who brings his vast experience to the post of nonexecutive director.
Flightspares' main franchise is Tyco Electronics, whose products the distributor has sold since the 1960s.
Explains MD Paul Green: "For many years, Flightspares was the number one distributor for AMP/Tyco in the UK and Ireland".
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"We were even in the top five in Tyco's European distribution network, despite the fact that we only covered the British Isles".
"Tyco has presented us with many awards over the years, and even though we admit that under previous ownership there was a lessening of focus on the electromechanical side of the business, excluding the catalogue houses we are still the second most successful distributor for Tyco in the UK and Ireland".
Ian McFadyen, Sales Director for Tyco Electronics in the UK and Ireland comments: "We are delighted by the news and congratulate Paul and Maurice on the MBO".
"We have known and worked with them and the Flightspares team for many years, and feel confident and excited that under the new ownership we can significantly develop our business together".
Green believes that the Flightspares brand is still very strong.
"Even though we have not actively traded as Flightspares since 1999, we still get faxes every day addressing us by this well-respected name", he says.
"We have a massively loyal customer base which has stuck with us because of the service and support we offer".
"We will be reintroducing our policy of visiting even very small customers to ensure that this level of commitment continues".
The new Flightspares will start with 15 people, many of whom are transferring over from Compstock.
"Our customers will be reassured to know that the people they have always dealt with - including Sue Summerell, Gary Royston and Margaret Bromley in sales, and Michael Horlock in product support - are still a vital part of the team", adds Green.
"With their help we can refocus Flightspares and we expect strong growth".
Flightspares serves all industry sectors, including rail, automotive, contract manufacture and industrial.
As well as connectors, the company hopes to be successful selling other electromechanical products including motors, switches and relays.
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