discoverIE buys 90% stake in 3Gmetalworx for USD67.5 million

(Alliance News) - discoverIE Group PLC on Tuesday said it has acquired a 90% interest in 3Gmetalworx Inc, a designer and manufacturer of electromagnetic shielding products for the electronics industry, for USD67.5 million.

The Surrey, England-based designer and manufacturer of electronic components said 3G management will retain a 10% interest and will remain in the business "to deliver growth objectives into the medium term".

The acquisition of the Ontario, Canada-based business will support discoverIE's strategy of "building a differentiated, growth-focused electronics group by strengthening our North American presence in attractive, long-term growth markets, such as security and aerospace & defence," the firm said.

3G designs and manufactures electromagnetic shielding and thermal management products for use in electronic equipment, mainly in aerospace & defence, commercial space satellite and industrial.

discoverIE said demand for these products is "growing rapidly" as communication needs increase.

3G will join discoverIE's Connectivity operating unit within the Sensing & Connectivity, and will retain its brand identity.

It reported revenue of USD19.6 million for 2025, with an adjusted operating margin that is "well ahead" of discoverIE's medium-term target of 17%.

The acquisition, which is on a debt-free, cash-free basis, is expected to complete in the "next few months".

"The acquisition of 3G continues our strategy of building a growth-focused, international electronics group with strong operating margins and cashflow, and will be accretive to both the Group's adjusted earnings and operating margin. This transaction is discoverIE's second recent acquisition with a primary focus on the security and defence market," said discoverIE Chief Executive Nick Jefferies.

Shares in discoverIE were up 2.7% at 698.00 pence on Tuesday morning in London.

By Michael Hennessey, Alliance News reporter

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