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SDI Group PLC - Cambridge-based medical technology firm - Buys Fraser Anti-Static Techniques Ltd for an estimated GBP16.9 million, including around GBP3.9 million excess cash acquired. Consists of an initial consideration of GBP15.4 million, which represents a net GBP12.0 million payable in cash at completion, and a balancing payment in cash of about GBP1.5 million after completion. SDI says the acquisition is expected to be earnings enhancing in the current financial year.
SDI Chair Ken Ford says: "The acquisition of Fraser is a further step in our group growth strategy, demonstrating again the opportunities to acquire businesses with high quality products with export growth potential."
Fraser is a UK-based manufacturer of anti-static equipment, which eliminate, clean, generate or measure static electricity in industries including plastics, packaging, printing, food processing, medical, pharma, automotive and electronics. For financial 2021, it generated revenue of about GBP7.4 million and adjusted earnings before interest and tax of GBP1.6 million. Pretax profit was GBP1.9 million.
Current stock price: 178.02 pence, up 3.8% on Monday morning in London
12-month change: up 2.3%
By Xindi Wei; xindiwei@alliancenews.com
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