Newark manufacturer sold in £19m deal
Newark trackball manufacturer Cursor Controls Group has been bought for £19m by electronic firm discoverIE Group.
Cursor Control’s products include trackballs, touchpads and ruggedised keyboards. Over 90% of its sales are to international markets, with 40% being into America, Asia and other non-EU markets. The business wil retain its brand, post-deal.
The business has revenues for the year ended 31 December 2017 of £7.9m generating a reported pre-tax profit of £300,000.
Cursor Controls has been bought from Cursor Controls’ management team, who will continue in their roles, including a number of former managers and Maven Capital Partners.
Nick Jefferies, group chief executive of discoverIE, said: “The acquisition of Cursor Controls continues our strategy of building a differentiated, international, growth focused electronics Group with higher operating margins. Cursor Controls has a well-established track record of supplying high quality trackballs, trackpads and rugged keyboards internationally and into growth markets. They will gain access to our wider base of customers and with it, new sales opportunities. We are delighted to welcome them and all their employees into discoverIE Group.”