Portfolio
Nature of Business
e2v Technologies is a specialist supplier of radio frequency, microwave and sensing components as well as sub-systems. Its product range includes electronic tubes, sensors and semiconductors.
e2v’s roots go back to the 1940s when, under the name of the English Electric Valve Company (EEV), it focused on the development of magnetrons for use in defence radar applications. It was renamed Marconi Applied Technologies in the late 1990’s. Since then, e2v has undergone a series of changes that have seen the company develop a broad range of technological skills in order to service a number of markets.
Investment Overview
In 2002 3i supported the €82m MBO of Marconi Applied Technologies from parent company Marconi, backing the CEO, Keith Attwood. The company was re-named E2V. We introduced Ian Godden, a former managing partner in the Roland Berger Group, as Non-Executive Director.
Over the next two years a number of operational improvements were introduced, including upgrading both the financial management and IT systems. In addition the company expanded into Europe by opening a sales office in Munich. E2V also won two Queen’s Awards for Enterprise for its innovative products.
We helped the company prepare for exit which led to a €163m IPO on the London Stock Exchange in 2004.
