CAMBRIDGESHIRE, UK – Prima Electronics was purchased by NJ Russell Holdings, according to reports. Some £2.15 million ($2.8 million) will be used to fund the acquisition and boost cash flow.

Prima directors Tony Hall and Mike Rogers have sold their stake to Nick Russel, who will become chairman. Hall will remain with the business as managing director of the EMS company.

"Prima Electronics is a fantastic business with great prospects for the future,” said Russel. “Cambridge is widely known as a hub for tech startup businesses, most of which will not have the capabilities to produce the electronic components needed to develop products.

"The plan now is to build on the solid foundations laid by the directors and expand its services to all areas of the UK."