HiTek Power, established by the acquisition of Advance Hivolt, Advance Tektris and Advance Power GmbH by Ascent Investments Ltd., is setting its sights on growth. Under the Ascent umbrella, with strong financial backing from Lloyds Development Capital, HiTek now has the funding it needs to invest in developing the business, both organically and by acquisition. The creation of HiTek Power brings together the high-voltage expertise of Hivolt in the UK and the low-voltage background of Tektris in the US, coupled with the local sales and service support activities of Advance Power GmbH. The UK and US operations have strengths in design, operations and sales & marketing and the German sales & marketing and after-sales service activities give a strong presence in continental Europe. HiTek plans to integrate the established operations in the UK and US more closely in the near future and also develop a presence in the Eastern US. As part of the development of the business, the UK operation will be looking to move to suitable new premises near its current headquarters in Bognor Regis to enable it to expand and develop its operations to meet the increasing technology demands of its customers. The German operation will be strengthened to provide more applications design services to support local customers.