Ionix makes first swoop since MBO

IONIX Holdings has completed its first major deal since its management buyout in April from Volex.

Leigh-based Ionix, a £20m turnover supplier of wiring harnesses has acquired some assets from the administrators of Excel (Electronic) Assemblies, including Excel’s Dutch business.

Excel designs and manufactures sophisticated wiring harnesses and components used in medical, aerospace, and defence applications. It has a number of blue chip customers in these sectors.

Ionix chief executive Bill Taylor, who led the buyout from listed electrical cable maker Volex, said: “This helps to strengthen Ionix’s plans to drive growth through existing customers, new customer wins and strategic acquisitions.

“We are also very pleased to be acquiring Excel Assemblies BV which gives us the opportunity to build upon the existing Dutch contracts by winning harness, box build and logistics contracts for companies wanting to increase their Dutch content.

“This is particularly interesting for large military contracts where the Netherlands government is looking for 100% offset.”

Ionix was advised by Simon Wallwork and Nicola Brookes of Manchester law firm Pannone.

As well as its Leigh base, Ionix has operations in Croatia, Estonia and now Holland and has 550 employees.