One of the original Cambridge Phenomenon companies, Powertron, has been sold in a 1.
'Phenomenon' firm 'sold for 1.35 million
35 million deal.
The firm, based in Ainsworth Place, was founded by Miles Rackowe 30 years ago and is now a leading supplier of electronic power converters to Europe's rail equipment industry.
It also sells special power supplies across a broad range of industry, including instrumentation, mobile communications, CCTV and process control.
The new owner is Lincoln-based Elektron, an AIM-quoted group which includes Bulgin Power Source, which, with Powertron, forms the new Power Management Division.
The Powertron name will be kept and the company will stay in the Cambridge area, although it will move from Ainsworth Place in the next 12 months.
David Brannock, managing director of Bulgin, said: 'Acquiring Powertron has given us a great deal of added design capability as well as access to a successful European sales network.'
Mr Rackowe, who will continue in a business development role, said: 'Becoming part of the Elektron Group will make it easier for us to meet the needs of our expanding customer base, with access to a larger and more flexible manufacturing capability.'
Miles Rackowe is also well-known in the music world as the founder of Cambridge Sinfonia.