Pivot International has bought a majority equity stake in Wideblue for an undisclosed sum.
Based in Glasgow, WideBlue has a 20-year track record of helping clients take innovative and novel product ideas from the drawing board to prototyping and on to full scale manufacture and commercialisation.
WideBlue now has a multi-disciplinary workforce of 15 engineers many of whom have multiple degrees in electronics, physics, product design, engineering and production. T
Pivot International started as a product design and development engineering firm in the US and offers services in electrical engineering, mechanical engineering, software design, industrial design, project management, contract manufacturing, electronic manufacturing services (EMS), prototyping, supply chain management, data management, business development, and regulatory compliance.
Pivot offers the convenience of working with a U.S. company and the financial advantages of utilizing its own in-house, offshore, tooling procurement and manufacturing capabilities.
Russell Overend, managing director, WideBlue, comments: “We have been in discussions with Pivot for the past 12 months and I am pleased to say we have agreed the terms of the acquisition. Pivot were looking for a strategic partner to have a presence in Europe.
“Our skill sets, commercial and management capability are very much complementary. With Pivot’s contract manufacturing and component sourcing facilities in the USA and Far East we can now offer our clients a complete end-to-end solution going from the initial product idea to full scale production. Finding an overseas manufacturing facility can be a hit or miss affair; now we can offer full project management control and complete quality assurance to our growing portfolio of clients.”
Mark Dohnalek CEO of Pivot International said: “We looked at several options for setting up a European operation but WideBlue literally blew us away with its level of technical, engineering and commercial expertise. They have a superb track record of helping their customers take an idea and make the product a reality and commercial success. Their solutions are creative, innovative and novel and their team in Glasgow is one of the most highly qualified that I have come across during my 40 years in business. We are especially interested in WideBlue’s specialist expertise in optical technology which is world-class. It is very much a niche in the engineering world and the skills are highly sought after for applications such as IoT, security systems and medical devices. We look forward to a long and fruitful relationship with WideBlue.”
The acquisition of WideBlue brings the total headcount at Pivot to 400 across the globe including an engineering team of 50. WideBlue is the company’s fifth acquisition in the past 24-months and Pivot has seen its revenues grow by 82.4 per cent from 2013 to 2016.
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement