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Funding Available Now From £250,000 - £20,000,000

Hoskyn Child has access to funding for all sorts of commercial enterprises ranging from mezzanine funding and substantial financial lines through to equity investment via its well established stable of high net worth individuals.

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UK Pair Plan Group of 12 for Contract Manufacture

Two businessmen plan to create a group of UK-based contract manufacturers and claim to have investors in London and Hong Kong prepared to back the plan.

This Article appeared in Electronics Weekly

RICHARD WILSON

Two businessmen plan to create a group of UK-based contract manufacturers and claim to have investors in London and Hong Kong prepared to back the plan.

Jonathan Wooller, chairman of corporate rescue firm Hoskyn Child is working with former distribution executive, Pat Frizoni on a proposal to combine as many as 12 small and medium-sized manufacturers in one group. The intention is to float the group on the stock market in around two years.

According to Frizoni, the electronics sector needs considerable consolidation and he believes there are many businesses in the UK which would benefit from being part of a larger manufacturing group with partners in the Far East.

They propose to use partner companies in the Asia-Pacific region to provide substantially lower cost manufacturing. "This will increase business margins for UK firms from 10 per cent to 40 per cent," said Wooller. But he insisted that the group would retain UK manufacturing for smaller volume and specialist business.

" This is about stopping firms going bust, as the business is going out to the Far East anyway," said Wooller.

Wooller is looking for manufacturers with sales in the range £5m to £15m. He said the plan is not to simply acquire failing companies and said there was already financing in place to create a group of a dozen firms.

Existing management will be kept in place and they will be required to retain a stake in the group with the expectation of a flotation in two years. "In a way we are offering some of these managers an exit route," said Wooller.