Trojan Electronics (Trojan), the award-winning Swansea-based services provider plans to double its annual turnover within the next 3 years, with the backing of an equity investment from Finance Wales.
Trojan will use the six-figure investment to scale-up its operations for growth from its purpose-built 180,000 sq ft facility in Swansea’s Kings Dock, from where it currently employs 150 staff.
Trojan is now Europe’s largest services group in providing multichannel retail sales and fulfilment, Contract Electronic Manufacturing (CEM), and asset recovery through refurbishment and recoup.
The company has a long and established relationship with Finance Wales securing a commercial loan in 2002 to help launch the business in 2002. After repaying fully, the company secured a financial package from Finance Wales, the Welsh Government and other co-investors in 2015 to relocate to its Kings Dock facilities.
Clive Murphy, managing Director of Trojan believes Finance Wales’ equity investment will allow Trojan to maximise its high-tech facility further:
“Since moving to our new Kings Dock facility we’ve been able to further develop our services by utilising our increased capacity and developing our bespoke warehouse management and reporting software. With Finance Wales’ latest investment we’ll be able to accelerate this development, boosting our growth and allowing us to maintain our high quality service to both existing and new customers.”
“We originally set up Trojan with a loan from Finance Wales 14 years ago, and they’ve been a valued supporter of us ever since, investing in us again last year to help us make the move to Kings Dock. They’re experienced investors, with excellent contacts, and introduced us to our new Chairman, Keith Brooks, who has significantly strengthened our board.”
Commenting on his appointment, Trojan Chairman Keith Brooks said: “Clive and his management team have a strong vision for the company, and I have already been able to work with them to help shape their ideas into practical strategies. Growing a well-established business requires a focus on efficiencies, finance, management processes and governance, and I’m very pleased to able to share my expertise in these areas.”
Trojan currently processes over 600,000 items annually for many large FMCG retailers, SME’s and manufacturers, Trojan also offers excellent UK based Contract Electronic Manufacturing services, and through its online activities, facilitates the sale of tens of millions of pounds worth of products each year.
Leanna Davies, Investment Executive at Finance Wales, made the investment in Trojan. She added: “Trojan Electronics is an established business that’s adapted to changing market conditions over the last 14 years to become the market leader and important local employer it is today. The company has a strong, innovative business model, with significant future potential.
“We’ve come up with a bespoke equity package that will now enable Clive and his team to ramp up Trojan’s operations, and unlock new market opportunities without impacting their cash flow. Equity investment can be an excellent option for businesses looking to grow rapidly, as they can also benefit from the right expertise to help them achieve their growth ambitions.”
Based at Finance Wales’ Dafen office, Davies is keen to speak to more established West Wales businesses with plans to expand about how an equity investment package could help them.