This transaction enables Trackwise to increase its production of improved harness technology (IHT), as well as to expand its customer base and enhance technical, sales and operational expertise.
Trackwise IHT relies on a special manufacturing process to remove the conventional size constraints of Flexible Printed Circuit (FPC). It enables Track Track to produce multi-layer FPCs of any length for challenging applications such as aircraft, industrial wires or cars, as well as medical devices, entertainment equipment, scientific instruments and consumer products.
The remainder of the £ 5.9m fund-raising proceeds will be used to fund additional capabilities and capacities as well as capital to support growth initiatives including the ongoing development of intellectual property and Trackwise's technical knowledge.
Philip Johnston, Trackwise CEO, commented: “We are delighted with the great support that existing and new investors have demonstrated. The SCL acquisition expands our manufacturing capabilities, giving us the ability to deliver IHT series production, while diversifying revenue sources and customer base. The SCL team brings in depth Plus for our technical, sales and operational expertise we look forward to welcoming them to Trackwise. ”
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