Garner Osborne Circuits Limited

Cognos UK advises PCB manufacturing and assembly specialist Garner Osborne on their sale to a search fund led by industry specialist Dean Curran, backed by Novastone Capital Advisors, Ethos Partners and Thincats.

Based in Newbury, Garner Osborne is a leading specialist in printed circuit board (PCB), manufacture and assembly, and mechanical assembly. With over 33 years’ experience in all aspects of PCB manufacture, assembly and full-function test, Garner Osborne delivers UK market-leading high-quality and reliable PCBs: from rapid prototyping, small to medium-sized volumes, and large-volume offshore manufacture.

Garner Osborne has a well-established and diversified customer base with 400+ active customers operating in a variety of sectors, including medical, automotive, aerospace, seismology, audio & broadcasting, defence, measurement & instrumentation, power supply, IOT, communications & network, surveillance & security and retail.

The transaction will provide an exit for the founder and former Chief Executive Mike Garner and his business partner Nigel Priest, with Dean Curran stepping into the business as Chief Executive and co-owner. However, Mike is retaining a minority shareholding in the business and having reinvested a substantial portion of his own proceeds, Steve Honeybun will remain in place as Operations Director, working alongside Dean to deliver the business’ ambitious growth plans. The deal has been further backed by a leading mid-market debt provider Thincats.

Cognos UK acted as lead advisors on the transaction which included assessing the strategic options for the shareholders and management, identifying suitable acquirers, negotiating detailed exit and terms, supporting the business through an extensive due diligence process and project managing the deal to a successful completion.