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Market: LSE
52-week High/Low: 332.25p / 203.20p
Sector: Business Support Services
Market Cap: 205.07M
Acal Plc

Acal Plc

Acal is a leading supplier of customised industrial electronics. Acal designs, manufactures and distributes customer-specific electronic products and solutions to 25,000 industrial manufacturers in all major geographies. Acal is listed on the London Stock Exchange (LSE: ACL).

Acal works in a wide range of technology areas, for example making temperature sensors for coffee machines, customised transformers for CT scanners and cable assemblies for stair lifts.  Acal’s markets are throughout Europe, with increasing presence in the US and Asia


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Big picture - Why invest in Acal Plc

Acal Plc Snapshot

Acal designs, manufactures and distributes customer-specific electronic components to over 25,000 companies around the world, supplying customers in the transportation, medical, renewable energy, industrial, communications and defence sectors.

Acal's market proposition is unique. Working with selected technologies, the Group helps customers solve technical challenges and innovate by creating application specific product designs. No other company offers this capability on Acal's scale.

Established in 1986, Acal has transformed itself in recent years. The Company has pursued a strategy of creating a high-margin, differentiated business; developing sophisticated, customer-specific products; investing in top engineers and design and manufacturing facilities; and building scale via targeted acquisitions. The new strategy has delivered results, as sales from continuing operations have grown from £120m in 2010 to £288m in 2016.

Acal has operating companies and manufacturing facilities in many European and Asian markets, including: the UK, Germany, France, the Nordic region, Benelux, Italy, Poland, Slovakia and Spain; Asia (China, India, Sri Lanka, South Korea and Thailand); and the US, Canada and South Africa.

Acal operates through the following wholly-owned businesses: Acal BFI, Contour, Flux, Foss, Hectronic, MTC, Myrra, Noratel, Plitron, RSG, Stortech and Vertec.


The Group strategy comprises four elements:

To move up the electronics value chain by focusing on differentiated products with higher operating margins
To grow sales organically well ahead of GDP by acquiring new customers via web marketing and realising operational efficiencies from cross-selling and synergies between Group companies
To acquire businesses that broaden and strengthen Acal's technological expertise with complementary products, customers, suppliers and geographies
To develop sales internationally by following existing customers' international needs and by developing local market sales

what we do

Acal has two divisions: Custom Distribution and Design & Manufacturing.


Custom Distribution

Custom Distribution division provides technically demanding, customised electronic, photonic and medical products to over 20,000 industrial manufacturers. The products come from a range of complementary high-quality international suppliers, with whom Acal often works on an exclusive basis, and, increasingly, from Acal's own Design & Manufacturing division. 

A high degree of engineering knowledge is required from the division's employees, with more than half being technically qualified.


Design & Manufacturing

The Design & Manufacturing division supplies electronic products that are either designed uniquely for a customer or are modified from an existing product to customers' specifications. 


Design & Manufacturing has over 5,000 customers. It distributes some of its products via Acal's Custom Distribution division and this cross-selling is set to grow. It operates through the following wholly-owned companies: Noratel, Myrra and RSG (Power & Magnetics), Stortech and MTC (Electromechanical & Shielding), Hectronic (Microsystems & Displays) and Foss (Fibre Optics).


The division's principal manufacturing facilities are in China, Thailand, India, Sri Lanka, Norway, Poland and Slovakia.


Our Products



Our Customers


25,000 industrial customers


Geographic Presence

Acal has operating companies and manufacturing facilities in a number of markets, including the UK, Germany, France, the Nordic region, Benelux, Italy, Poland and Spain, as well as in Asia (China, India, Sri Lanka and South Korea), the US and South Africa.

R J Moon

R J Moon - Non-Executive Chairman

Richard joined the Board in September 2004 and became Chairman in April 2005. Formerly a Director of Racal Electronics plc and Chief Executive of Thales plc, he is Non-Executive Chairman of Seven Technologies Holdings Limited and is Chairman of Synergie Business Limited.

N J Jefferies

N J Jefferies - Group Chief Executive

Nick joined Acal as Group Chief Executive in January 2009. Formerly General Manager for Electronics globally at Electrocomponents plc, and having previously held senior positions at Arrow Electronics, he started his career as an Electronics Design Engineer for Racal Defence (now part of Thales plc).

S M Gibbins ACA

S M Gibbins ACA - Group Finance Director

Simon was appointed as Group Finance Director in July 2010. A Chartered Accountant, he was previously Global Head of Finance and Deputy CFO at Shire plc. Prior to joining Shire in 2000, he spent 6 years with ICI plc in various senior finance roles, both in the UK and overseas. His earlier career was spent with Coopers & Lybrand in London.


R J Brooman MA FCA FCMI - Senior Non-Executive Director

Richard, a Chartered Accountant, became a Non-Executive Director in January 2013. He is a Non-Executive Director, and Chairman of the Audit Committees, at Hg Capital Trust plc and Invesco Perpetual UK Smaller Companies Investment Trust plc. A Director or Trustee of several businesses and charities in the third sector, during his executive career he was Group Finance Director of Sherwood International Plc and VCI Plc.

H E Marsh MBA MA

H E Marsh MBA MA - Non-Executive Director

Henrietta (Het) was appointed a Non-Executive Director in May 2013. She is also a Non-Executive Director of Dods (Group) PLC, where she chairs the Remuneration Committee; a Non-Executive Director of Electric Word plc; an Operating Partner of ISIS Equity Partners ("ISIS"); and a member of the London Stock Exchange's AIM Advisory Group. Previously, she was a Fund Manager at ISIS and a Director of 3i plc.

G P Shillinglaw FCIS

G P Shillinglaw FCIS - Group Company Secretary

Gary joined Acal as Group Company Secretary in August 2008. A qualified Chartered Secretary, he has previously held that position in a number of listed and non-listed public companies, including Countryside Properties plc, B&Q plc and First Leisure Corporation plc.

M M Diamond MBE

M M Diamond MBE- Non-Executive Director

Malcolm was appointed a Non-Executive Director in November 2015. He is also Executive Chairman of Trifast Plc and Non-Executive Chairman of Flowtech Fluidpower PLC. Prior to being appointed Executive Chairman, Malcolm was Managing Director of Trifast Plc and, among other previous appointments, was Senior Non-Executive Director of Dechra Pharmaceuticals Plc and a Non-Executive Director of Unicorn AIM VCT plc.


T Graham

T Graham - Non-Executive Director

Tracey joined the Board as a Non-Executive Director in November 2015. She is also a Non-Executive Director at Dialight Plc, at Ibstock plc, at Royal London Mutual Building Society and at Link Scheme Limited. Among other previous appointments, she was a non-Executive Director at RPS Group PLC. During her executive career, she was Chief Executive of Talaris Limited and Managing Director of De La Rue Cash Systems.


2 Chancellor Court

Occam Road

Surrey Research Park



Tel: 01483 544500

Overseas: +44 (0)1483 544500

Email: [email protected]

Stockbrokers - Peel Hunt LLP


Principal bankers - Barclays Bank PLC/Lloyds TSB Bank plc


Auditors - Ernst & Young LLP


Registrars - Equiniti Limited

Acal Plc Timeline

CN Research
January 10 2017

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