GMK Ltd are pleased to annouce that we have completed a 44% purchase of Centanex Ltd.
We have represented Centanex's range of distraction and smoke grenades, plus pyrotechnic training devices, to the UK Police and some MOD departments for over 5 years. We count over 75% of the UK's Police forces as customers for both training and operational uses. As a result we have become very familiar with the company and their worldwide potential within the law enforcement and military sector. We have also come to appreciate the outstanding quality of their products and their efficient customer service, all of which has attracted us to inject an equity investment.
The investment will be used to obtain new manufacturing machinery, to improve efficiency and boost capacity. It will also fund the development of new products as opportunities present themselves. We aim to build upon the existing customer base, which includes the UK MOD as well as Eastern European and Asian customers.
Andrew Spurr founded Centanex in 2009 and remains Managing Director with personal responsibility for product development and production. Both Andrew and his team have a wealth of knowledge in both engineering and pyrotechnics. Andrew founded the company driven by a desire to produce safer and more cost effective distraction devices than those currently available.
Commenting on the investment GMK Managing Director Karl Waktare said:
"We are delighted to conclude this investment in Centanex and are really excited by the opportunity. Centanex produce category leading products which deliver outstanding levels of customer satisfaction. We will very shortly be unveiling the re-branding of Centanex including new product literature and a new website"
GMK Ltd is majority owned subsidiary of Beretta Holding S.p.A. and the UK representative for Beretta Defence Technologies (BDT). This is the latest investment by Beretta Holding following the recent acquisition of STS and Diffraction Ltd, both operating in the electro optics sector. Centanex will add a new expertise and dimension to the BDT portfolio.