Cash Dynamics (CDL) has announced the private acquisition of Cirencester-based electronic manufacturer and electric vehicle charger (EV) specialists Cursey Technology.

Founded in 1993 as an electronics design and prototyping company, Cursey Technology provides a wide range of services in the contract electronics manufacturing (CEM) sector, from one-off prototypes and specialist low volume through to medium volume repeat production batches.

All Cursey Technology 30-plus employees will remain with the business moving forward.

Nick Glover, founder of Cursey Technology, will be staying on to help support the business with his focus and concentration in the technical and development areas, continuing to inject his wealth of expertise to the company.

In recent years, Cursey has evolved into the electronic vehicle (EV) markets through their innovative R&D based approach and achieved success by adding value to everyday products.

This proved very attractive to CDL and represents a clear parallel between the respective business models which support both companies' growth strategies.

The EV and CEM service elements will directly contribute towards the diverse business foundations well established at CDL.

CDL (Cash Dynamics Limited) originated from operating in cash management markets evolving alongside their sister company TPSM at their site in Hainault, Essex. Together TPSM and CDL have a world class facility to design and manufacture metal components and products in-house and the expansion of CDL with this acquisition of Cursey will allow the group to move further into electronics markets.

The wider group will benefit from increased customer order processing capability, optimising efficiencies whilst meeting the latest ergonomic requirements by adding real value to standard product lines.

CDL actively serves numerous markets, including cash automation, kiosks, safes, medical equipment, and lockers. They deliver ongoing repeat business for national and international brands.

Ray Belcher, owner of the CDL group, said: "CDL is forever evolving with the fast-changing payment, kiosk, and manufacturing markets and we aim to continue to build a strong foundation for continued company growth.

"The acquisition of Cursey Technology is a really exciting one for all involved, and will anchor our leading market positions through increased capacity and capability.

"We are really looking forward to working with Cursey Technology and to supporting their growth and successes."