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January 12, 1988

NOW CANNON STREET BUYS CUSTOM CIRCUIT BOARD MANUFACTURER BHK FOR UP TO ?3.5m

By CBR Staff Writer

Fast-growing holding group Cannon Street Investments Plc yesterday announced its second electronics acquisition within a week. Following last Thursday’s purchase of Dutch electronics trader and distributor Dunnet NV (CI No 841), Cannon Street has now bought Scottish printed circuit board manufacturer BHK (Circuits) Ltd for an initial consideration of ?1.2m. Further payments bringing the total up to ?3.5m will depend on performance between now and March 1991. BHK specialises in short customised runs and is not involved in mass circuit board production. Profits for the year to March 1988 are expected to top ?300,000, against ?179,000 last time. Cannon Street says the acquisition fits into its strategy of buying growth businesses and retaining their entrepreneurial founders to manage them. Like Dunnet, BHK will be run independently of Cannon Street’s Marlow, Buckinghamshire-based PST computer hardware and consumer electronics arm.

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