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Autoleads buys CTI for £2.1m

Autoleads, part of the Armour Group, has purchased CTI, one of the Europe's leading designers and manufacturers of specialist GSM and GPS aerials and antennae for the automotive and marine aftermarkets.

The purchase price total approximately £2.1m of which £1.75m will be paid upon completion.

CTI, located in Fareham, employs approximately 30 people and supplies a customer base predominantly in mainland Europe.

The CTI product range of GSM / GPS aerials and antennae complements the mobile communication products currently sold under Armour's Autoleads brand and will enable the Group to offer a full range of products for hands-free mobile phone communications.

This market is set to grow significantly in the coming year as a result of the expected change in legislation in the United Kingdom regarding the use of mobile phones in vehicles.

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