PRP Technology Ltd, a holding company of PRP Optoelectronics Ltd of Towcester, UK (a privately owned firm designing and manufacturing LED-based products), has announced a long-term strategic investment partnership with Veruth Holdings Ltd (a private investor specializing in UK manufacturing companies).
With the aim of helping firms to grow, Veruth takes an active interest by having a director on the board to add further expertise, intending to stay with its investments over a long period of time.
“PRP Technology represents our biggest single investment to date and we were very impressed by [PRP chairman & CEO] Robert Green, his team and the exciting technology that PRP is developing for international customers,” comments Veruth’s chairman David Sheridan. “PRP has big plans for the future,” he adds.
PRP offers complete in-house end-to-end design services (from chips to hardware and software integration) as well as development and manufacturing capabilities for both custom and standard hybrid and monolithic LED devices, LED displays, systems and related technology for military and commercial avionics, industrial and medical applications. PRP uses facilities at Rutherford Appleton Laboratory in Didcot to design and manufacture its own LEDs, and offers its expertise to customers requiring wafer processing.
“We plan to use this investment to fund our continued product development and market diversification,” says PRP’s chairman & CEO Robert Green. “We welcome Dr Stephen Reynolds to the board and look forward to working closely with Stephen and David.”
On 6 October, PRP Optoelectronics announced its move to a 950m2 facility in Swindon, UK (supported by Swindon Borough Council and its investment firm Forward Swindon), which will contain bespoke manufacturing space as well as engineering and administrative facilities. “After 25 years in Towcester the proposed demolition of the site by the owners forced us to reconsider the best location for PRP to enable the company to continue to support the growing demand for its products,” says Green. “Swindon not only has excellent transport links, it also represents strong local hub of technology companies with a good source of local talent and supply chain links,” he adds. “For our international customers Heathrow airport is just down the road.”
