The merger creates one of the largest ECM operations in the UK, with a combined turnover exceeding £50 million. Maven's investors realised a return on investment of 2.85x through this exit.

CBT, headquartered in Livingston, Scotland, is known for producing robust electronic systems designed to operate in extreme conditions such as high temperature, pressure, and vibration. Over the years, the company has earned a reputation for delivering reliable and high-quality services, establishing long-term partnerships with clients who value its proactive, flexible approach.

Maven first became involved with CBT in 2014, supporting a buy-in management buyout (BIMBO) following the retirement of the company’s founders. Maven brought in a new leadership team, headed by CEO John Cameron and CFO Graham Scott, who have continued to steer the company. Group Chairman Laurence Ormerod, who has been with CBT since the transaction, will retire upon the acquisition's completion. Under Maven’s ownership, CBT made significant investments in both its workforce – doubling its headcount – and in production technology, including automation, which boosted capacity and enabled expansion into new sectors demanding high-performance, reliable electronics.

Since the management buy-in, CBT has seen its revenue quadruple, cementing its reputation as a trusted partner for global Original Equipment Manufacturers (OEMs) and Tier 1 firms in various industries.

The acquisition by Elite, based in Northern Ireland, is a strategic move that will complement both companies’ strengths. CBT will continue operating from its Livingston base, while the combined group will benefit from broader market access, increased resources, and enhanced capabilities.

Alan Robertson, Partner at Maven, commented: "The transformation of CBT from what was essentially a lifestyle business to becoming Scotland’s largest independent electronics contract manufacturer has been incredibly rewarding to be a part of. John and Graham have done an exceptional job of professionalising the business and implementing a clear strategic plan that has consistently driven revenue growth. We are proud to have supported CBT’s growth over the past decade and are delighted to see it combine with Elite to become one of the largest ECM’s in the UK, while continuing to support its existing and growing customer base from Livingston. We wish John, Graham and all the staff at CB continued success and thank them for their significant efforts during our partnership.”

John Cameron, CEO at CB Technology, said: “We are delighted that the acquisition of CB by Elite has been finalised and we are extremely excited about the future potential and opportunities this will create for CBT’s employees and customers. The journey to get to this point has been immensely rewarding and could not have been achieved without the support and insight of Maven. Their team have been an integral part of the successful growth and development of the company over the last 10 years, and I would like to take this opportunity to extend our thanks to them for their unwavering support.”