Acquisition sees technology companies join forces
Knaresborough-based, GSPK Design has been acquired by Boroughbridge-based, GSPK Circuits in a merger designed to boost Yorkshire’s electronic design and manufacturing capabilities.
The two companies were spun out from the GSPK group in the early 2000s.
The deal took place between GSPK Designs majority shareholders, Paul Marsh, Graham Keddie and GSPK Circuits managing director, Steve Lloyd.
GSPK Design will continue to operate separately but will have more resources at its disposable to ensure continued growth in the designing and manufacturing of electronics under one roof.
The firm serves a variety clients throughout the UK and has worked on hundreds of electronic projects over its 21 years in business.
A key reason GSPK Circuits made the acquisition was the fact GSPK Design is an accredited medical device company to ISO 13485:2016 standards.
GSPK Design already has its own medically approved device on the assistive technology market, Emego which helps people wirelessly control their computer using only their muscle movements.
Manging director of GSPK Design, Paul Marsh who grew the company from 2006, said: “This is exciting times for the company and facilitates ongoing growth, development and security for the existing employees.
“It’s a win-win for all parties and will give some stability to GSPK Design Ltd from being part of a larger group of companies and bring some innovation and creativity along with medical accreditations to GSPK Circuits enhancing the offering of both companies.”
There will be a period of management change as Lloyd becomes the new managing director of GSPK Design.
He will bring with him his expertise in electronics and business management enabling future growth for GSPK Design.
Lloyd said: “It’s a perfect fit, a no brainer really. When Paul came looking for someone to take GSPK Design to the next level, it just had to be us.
“The two companies dovetail nicely and we can expand the offering of both companies to support our customers. It’s going be an exciting time and we look forward to the next chapter.”