Waterlooville circuit board company secures £4.1m funding

Spirit Circuits Limited, based in Waterlooville, manufactures Printed Circuit Boards.

The firm obtained the funding from Bibby Financial Services.

The package includes a combination of finance, trade finance and foreign exchange facilities totalling £4.1m.

The designer and manufacturer makes products for the fire and security controls, LED lighting and electronic vehicle markets.

The new funding is enabling the company to embark on an ambitious strategy which is targeting 20 per cent year-on-year growth in 2019.

The firm has opened a new manufacturing plant in Romania.

The plant allows it to deliver products across Europe within 48 hours of manufacturing.

Steve Driver, group CEO, said: ‘2017 has been a very strong year and has put us in a position to capitalise on a positive outlook for the next 12 months,

‘The UK remains a global leader in PCB design and manufacturing.’