Stadium Group appoints new FD

ELECTRONIC TECHNOLOGIES COMPANY Stadium Group has appointed Joanne Estell as finance director with immediate effect.

Finance director Colin Wilson, who stands down from the board immediately, having previously discussed his interest in pursuing his career outside the company, will work alongside Estell until the end of November.

Estell began her career in 1996 with hotel and restaurant group Whitbread, leaving in 2001 to join Smiths Group as assistant financial controller within the engineering company’s sealing solutions division.

She later became FD of John Crane, the mechanical seals division of Smiths, where she led the acquisition process of Orion Corporation in the US.

Stephen Phipson, chief executive of Stadium said Estell’s “appointment comes at a crucial stage of our development as we move from a business focussed primarily on EMS into a wider IP rich technology business with improved quality of earnings”.

Earlier this month, Stadium acquired IGT Industries, a designer and manufacturer of displays for the professional electronics market, for £4.2m.

The acquisition is expected to be earnings accretive in the 2013 financial year and the business is being bought on a cash and debt free basis.

For the year ended 31 October 2011 IGT recorded revenue of £5m and underlying operating profits of £0.58m.