Memec Group

Founded in 1974, Memec distributes microchips to mobile-phone and computer makers in 42 countries. The founder, Dick Skipworth, sold the firm to the German utilities company Eon in 1991, but in 2000 he and the management team led by David Ashworth, chief executive, bought the company back with funding from Permira, the venture capitalist. Despite recent new ventures in Japan and eastern Europe, reported sales dropped by more than £400m to £994m in 2002, when the company had 2,700 employees.

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Company details
Year2003
Rank23
CompanyMemec Group
ActivityElectronics distributor
LocationOxfordshire
Sales £m*994
Profit £m*30
Year endDec 02
Principal shareholdersPermira and other investors (80%), management (20%)
Staff2,700
Founded1974
Websitewww.memec.com

If applicable:

* Supplied by company † Annualised figure