Ward & Goldstone was founded by James Henry Ward and Meyer Hart Goldstone in Salford, 1892. The business was initially based on Frederick Road and Dutton Street, manufacturing electrical cables and accessories. Ward & Goldstone was incorporated as a public company in 1919. By 1920, they were marketing the Volex Motorcycle Lighting set. The brand name 'Volex' would remain in use until the 1980s.

By 1922 Ward & Goldstone employed eight hundred and fifty people. The Company directors were M. H. Goldstone, A. A. Goldstone, J. H. Ward and L. B. Goldstone. According to a report in The Times, by 1968 Ward & Goldstone was one of three companies that supplied complete electrical systems to car makers, and the firm was responsible for supplying a quarter of the British market.

In 1975, the company experienced strikes at twelve of its factories.

By 1983, the business was in financial difficulties. An overhaul of the management structure and a change of name to Volex Group resulted in a swift return to profitability.