Management Buyout at SMS

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UK-based electronics manufacturing service (EMS) provider, SMS—Smart Made Simple is delighted to announce that Andrew Maddock, current managing director, and Craig Taylor, current financial director, are now the official owners of SMS—Smart Made Simple, effective from 01 March 2019.

Over the past 100 years, SMS—Smart Made Simple has continued to evolve. Most recently, under the leadership of Andrew and Craig, the evolutionary journey continued as the business became known in the market as SMS—Smart Made Simple. But it’s not just a company name change, as Andrew and Craig have also transformed the operations to ensure that SMS acts as a local gateway to design, development and distribution resources across the entire supply chain. From concept to creation, to commercialisation, to the consumer and beyond.

“SMS—Smart Made Simple has become my home away from home, and my team has become my surrogate family.  This is the model that Craig and I want to continue to adopt, to embrace, and develop a ‘family’ business, one where everyone is connected to shared goals, and every decision is a smart one, aimed to make business engagement simple,” said Andrew Maddock. “Over the past five years, we have continued on a path of growth and productivity gains.  Alongside a team of motivated employees and strong senior management support, we are in an exemplary place to build and nurture SMS—Smart Made Simple for the long term.”

As one of the largest regional manufacturers in the UK, supporting large and small brands, SMS helps manufacturers streamline supply chain touch-points, reduce risk and costs, improve responsiveness, maximise transparency and traceability, and accelerate entry to the market.

Former Chairman and Co-Founder of SMS Electronics, Mike Harby, made the following statement; “It has been my privilege to serve as SMS Electronics chairman for the past seven years. SMS Electronics has been well served by an excellent executive team, led by Andrew Maddock, and Craig Taylor, who have worked constructively with a strong and supportive board of directors. SMS Electronics has remained stable and secure throughout periods of uncertainty in the U.K. and we have worked hard to ensure that today it is a robust, well capitalized and profitable business.

I am truly delighted for our customers, employees, suppliers, and shareholders, that the company reigns will be passed onto Andrew and Craig, who have continuously added value to SMS Electronics with a combined service of over 50 years. SMS Electronics is full of hard-working, talented individuals whose integrity and work ethic are second to none. It goes without saying that SMS Electronics will continue to have my wholehearted support in the future.”

The management buyout was supported by a finance package from HSBC UK.

Roger Pratt, East Midlands Corporate Banking Area Director, HSBC UK, said: “We’re delighted to have provided Andrew and Craig with the funding they needed for this management buyout which ensures SMS—Smart Made Simple will continue to fly the flag for UK manufacturing in the East Midlands. Graham Brown, our Relationship Director who led the deal for HSBC UK, has worked closely with the business for the past two years so knows it inside out. We’re excited to support the growth aspirations of the new owners as the business begins a new chapter in its story.”

About Andrew Maddock

Andrew Maddock is the Managing Director (MD) at SMS—Smart Made Simple. Maddock has over 20 years of experience working within procurement in the electronics manufacturing industry. He started his career on a one-year placement with GPT whilst studying at University. Mr. Maddock went on to spend two further years working within Automotive Procurement before returning to the electronics industry as a buyer for Siemens.

Maddock held several executive positions throughout the organisation, building a focused understanding of New Product Introduction (NPI) and project management before he moved into senior management in purchasing within SMS.

On Maddock’s appointment to MD, the focus and direction for SMS has transformed. By embracing strategic change and leadership, SMS will intensify its attention in high-growth areas, where it is positioned for long-term leadership, customer value and growth, whilst making the company more efficient and profitable.

Maddock is a natural leader. He provides valuable insights into the future of the industry with a vested interest in developmental services for existing and emerging technologies.

About Craig Taylor

Craig Taylor is the Financial Director (FD) at SMS – Smart Made Simple.

Taylor has over 20 years of experience in Finance within the manufacturing industry and is a fully qualified chartered management accountant, holding his CIMA professional qualification.

Starting his career at Siemens, Taylor has been involved with SMS Electronics from its conception and has witnessed the company grow into the financially stable organization it is today.

Taylor takes great pride in being able to use his experience and knowledge from his CIMA professional qualification to help benefit not only SMS, but their customers too.  He is recognized for his ability to identify continuous improvement actions to reduce cost, create & implement business/operational strategies, enhance quality, productivity, yield, and margins.

As FD, Taylor is part of an organisation that brings together the knowledge to enable aerospace & defence, communications, industrial and medical customers, as well as guide start-up and emerging technology companies. Those that share unique and challenging characteristics; high-level complexity and configurability, with a need for low to medium volume production in close proximity to their partner or end market.

About SMS

SMS – Smart Made Simple, is the U.K.’s leading Manufacturing Service Provider.

From concept to creation, to commercialisation, to customer, for all technology companies. Whether you are a start-up, or an established household brand name, if you have a design, engineering, manufacturing or supply chain problem, thanks to the diversity of our experience and scalable service, SMS has the solution.

Since 1920, SMS has manufactured electronics products from the same home in Nottingham, U.K. For almost 100 years, we have been the company behind the ideas, offering agile and adaptive supply chain solutions, that bring products to market faster, smarter and simpler.

Leader in the specialist low volume, highly complex manufacturing services market space, SMS has earned critical industry facility certifications, that brings full viability and credibility to the aerospace & defense, communications, industrial and medical markets. SMS brings the right scale, capabilities and competitive solutions to customers needing high-reliability attention, product realization and supply chain optimization.