Trackwise Designs plc, a leading manufacturer of specialist products using printed circuit technology, has announced that it is putting itself up for sale.

Trading in shares of the Tewkesbury-based manufacturer was suspended on the Alternative Investment Market (AIM) at the London Stock Exchange earlier this month pending the publication of the company's annual audited accounts.

Trackwise said its 2022 audit was delayed due to the intensive demands on its management team and the need to address the impact of delays with an existing electric vehicle OEM customer.

In May the company sold subsidiary Stevenage Circuits, which it had acquired in 2020 in order to boost its balance sheet. The move followed the appointment in January of Andrew Lapping as Non-Executive Chairman after a tough period of trading.

But on Friday the company announced that after working with a Tier-1 manufacturer for more than a year on the opportunity to supply it with cell connection system flexible printed circuit assemblies for onward assembly and supply to another manufacturer, Trackwise was advised by the Tier-1 manufacturer that it had not been successful in securing the business.

With revenue avenues shrinking, Trackwise's Board concluded to sell the business.

FRP Advisory Trading Limited has been appointed to progress a sale.

Trackwise Designs has the ability to manufacture almost limitless-length, multi-layer flexible printed circuits. 

In 2021, it broke its record for manufacturing the longest multi-layer flexible printed circuit. 

At an incredible 72 metres in length, it was designed for an industrial application using Trackwise’s patented Improved Harness Technology. Trackwise’s flat printed circuits are much lighter in weight and smaller in size than the traditional, multi-coloured wire harness bundles. 

That year Trackwise also purchased and began fitting out a 77,000 sq ft freehold property at Stonehouse in Gloucestershire. The company employs more than 100 people at its Tewkesbury headquarters.

Further information on Trackwise from PCB UNION:

Trackwise designs launches sale process for Stevenage Circuits

Trackwise FY losses widen amid contract delays