Vickers Electronics Limited, a Manchester, UK-based company that designs, installs and maintains energy management systems which regulate temperature in large commercial premises, has received a £7.2m investment.
Investors including venture and growth capital fund manager EV, PHD Equity Partners LLP and Yorkshire Bank Corporate & Structured Finance have backed a management buy-out of the company.
With the transaction, the current management team, led by David and Alison Hilton, is joined by incoming Chairman, Ian Cameron. Vickers plans to increase the rate of development of new products, and expand in new markets.
Founded in 1991, the company designs and installs energy management systems which regulate temperature in commercial premises with open areas such as warehouses and factories. Its flagship product, the “Vickers Energy Management System”, has been developed in-house as an intelligent, self-learning system which monitors temperature at various points within the building and controls the heating system to reduce fuel usage.
Clients include Stagecoach, and Magnet and Boots.
Vickers Electronics has 29 employees, who are based in Trafford Park.