GB Electronics – Unlocking Growth -
Coast to Capital Growth Hub helped GB Electronics to review its strategy, implement changes and help fund a crucial investment project.
GB Electronics (GBE) is a successful design and manufacturing company using cutting edge technology and clever functionality to breathe new life into clients' products. After the company bought Wildtrax, its main supplier, Managing Director Mark Bullen applied for a Growth Grant from Coast to Capital to help improve productivity. He got much more than just an investment.
"GBE was at a cross roads. We were a successful family-run company and we were proud of what we'd achieved. We'd grown by 20% in three years. We helped create ewan the dreamsheep©, the multi-award winning baby sleep soother. Since its launch, sales of ewan have reached more than 800,000."
IMPACT OF SUPPORT
But there was a problem. GBE had taken over Wildtrax, their main supplier of hi-tech custom-made circuit boards. After the acquisition, there was little capital left. They needed to invest to improve productivity and needed help to improve the Wildtrax production process. It was a worrying time.
This is where the Growth Hub team came in. Sure, they needed the money, but we needed to make sure that GBE mapped out a viable future.
"Coast to Capital Account Manager Ryan Davies was like having a non-executive director ask searching questions, making us find answers and then justify them. He challenged many of my assumptions about our business and gave vital feedback."
Because of Coast to Capital, GBE completed its productivity plan three years ahead of schedule. We helped created three new jobs and GBE now hope to exceed their growth target of a 40% increase in turnover within three years.
Follow GBE on Twitter @GBElectronicsUK for updated on the Coast to Capital Growth Grants follow the Growth Hub at @C2CGrowthHub.
"We're set fair for the future, ready to push forward with our Industry 4.0 version - the use of smart devices working together wirelessly to revolutionise production. It's no exaggeration to say that without Coast to Capital, GBE would not be where it is today."
Mark Bullen, Managing Director of GBE