Laser Wire Solutions

Origins

Laser Wire Solutions was founded to exploit the gap in the market for off-the-shelf, high-end laser stripping systems for medical device manufacture. Basic wire stripping devices existed in the market for larger cables used in the aerospace or consumer electronics markets, but there were no offerings available for precision medical applications. Laser Wire Solutions focused on developing cost effective, compact laser machines to enable state-of-the-art manufacturing with an off-the-shelf solution. Laser Wire Solutions has since adapted and developed its technology to build solutions for other precision applications, such as cloud computing cabling and electric vehicle wiring. The biggest challenges were to start out as a very small player with a few key contacts in the industry and being founded with limited cash from re-mortgaging the founder’s house and matching funds from a Welsh Government grant. This meant there was no money to hire more people so initially he had to do everything himself from finance to physics to emptying the bins. In terms of the technology, the biggest challenge in meeting the needs of the medical device market was to create a machine that was compact, accurate and affordable yet sufficiently rugged to withstand harsh manufacturing environments.

Success Factor

There are three main factors underpinning the success of Laser Wire Solutions namely innovation (the ability to create advanced technological solutions founded on an in-depth understanding of laser physics and industrial processes); partnership (a willingness to work collaboratively and flexibly with key customers and suppliers to design and adapt solutions to meet specific applications); and responsiveness (the ability to respond quickly to customers, with the desired information and systems at the right price).

The Future

The plan is to grow the company from £3.9 million (2018) to £15 million by end of 2021 whilst maintaining a healthy net profit of between 10% and 20%. This will be achieved specifically by continuing to innovate and expand its technology offering, creating solutions based on real customer needs and ongoing investment in recruitment and training of staff, IT infrastructure and quality systems. It will also grow its customer base in wire stripping as a service, particularly in the medical device market and broaden its geographical customer spread through a partnership with Schleuniger to include more European and Asian customers.