Vanilla Electronics targets acquisitions after securing ‘significant’ investment
Thetford's Vanilla Electronics has secured significant investment
A Thetford electronics business which designs and builds cutting-edge technology is targeting acquisitions after securing a significant investment to help it scale up.
Vanilla Electronics has received the fresh funding from Literacy Capital. As part of the deal, London-based Literacy will assist the firm in identifying potential acquisitions to help accelerate its growth and fulfil its ambition to the become the market leader in its field.
Founded in 2002 by CEO Dan Croft and his father, Vince, as a component distributor, Vanilla has expanded quickly to provide full supply chain management solutions for its customers around the country, typically high-end technology manufacturers working in sectors from oil and gas to healthcare.
"A significant milestone in the growth of Vanilla"
Dan Croft said: “This investment marks a significant milestone in the growth of Vanilla.
“We’ve always been keen to push ourselves and develop the company to its full potential. We build long-term partnerships with our clients, and our business model has evolved as they have asked us to do different things to add value.
“The goal is to be the market leader in supply chain management for the electronics manufacturing industry, and with the support of Literacy Capital I am confident we can do just that.”
Based at the Mundford Road trading estate, Vanilla now offers a fully outsourced service, from conceptual design, material procurement, kitting, manufacturing, through to end-customer order fulfilment, product returns, warranty, repair and re-supply. This end-to-end approach can help customers consolidate their typically complex supply chains, leading to operational and financial benefits.
Vanilla ships over a million parts per day from its 25,000 square foot distribution centre, with automated warehousing and advanced optical inspection equipment.
The company has also strengthened its senior team with the appointment of Matt Negus as CFO. He brings experience from number of digital and technology businesses in senior financial and operational roles.
"We are delighted to see investors from outside the region recognising the potential of our companies and would love to hear from anyone else interested in finding out more about Thetford’s hidden gems.” - Cllr Sam Chapman Allen, leader of Breckland Council
Cllr Sam Chapman Allen, leader of Breckland Council, welcomed news of the investment.
“Vanilla Electronics is a great example of the ambitious, innovative, business community we have here in Breckland,” he said.
“The company has gone from strength-to-strength in recent years, and this funding is recognition for the team’s hard work. We are delighted to see investors from outside the region recognising the potential of our companies and would love to hear from anyone else interested in finding out more about Thetford’s hidden gems.”
Linn Clabburn, Tech Corridor programme director, added: “Vanilla’s work bringing to life brilliant ideas conceived in Cambridge, Norwich, and beyond shows the role that a connected Tech Corridor can play in building the kind of resilient local supply chains which will be vital in this period of economic uncertainty.
“We look forward to working with Dan and his team as they move into this exciting new era.”