New era for Trumeter after rescue deal
TRUMETER, the North West designer, manufacturer and distributor of measurement devices and automotive lighting systems, has been bought out of insolvency in a rescue deal led by Energize Capital.
The company, led by former Manchester Chamber president Peter Wiedenbaum ran out of cash and was placed into administration last week.
Its future has been secured after the investment by Warrington-based Energize – a business set up by former Ford Campbell partner Jeremy Carr.
Energize has installed John Smith as chief executive at the Radcliffe, Manchester company where 24 people are employed. Trumeter, which was founded in the 1930s manufactures its products at its own factory in Malaysia.
Mr Smith said: “Trumeter has a long track record of developing innovative products and working closely with its’ global customers to deliver solutions to the measurement and automotive lighting markets.
“This investment will enable the company to commercialise several new products and increase production in Malaysia to meet our customer’s needs, many of whom are enjoying significant growth.
“While the company now has new shareholders, I am delighted that the executive team has elected to remain with the business and drive it forward. Their experience and knowledge will be invaluable as the company moves forward into an exciting period of growth.”