discoverIE Group, an international designer, manufacturer and supplier of customised electronics to industry, has acquired Newark-based Cursor Controls Group for £19m.
Cursor Controls, is a designer and manufacturer of human to machine interface products for medical, industrial and transportation applications.
Cursor Control’s products, which comprise trackballs, touchpads and ruggedised keyboards, are custom designed for specific applications, and are complementary to discoverIE’s existing business.
The acquisition is consistent with discoverIE’s strategic focus on structural growth markets with over 60% of its revenues derived from medical and industrial sectors. Over 90% of its sales are to international markets, with 40% being into America, Asia and other non-EU markets.
The business will operate within the discoverIE’s Design & Manufacturing division whilst retaining its distinct brand identity.
Cursor Controls has been acquired from its shareholders being Cursor Controls’ management team, who will continue in their roles, a number of former managers and Maven Capital Partners.
Nick Jefferies, Group Chief Executive of discoverIE plc, 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.”