SDI Group PLC - Cambridge-based medical technology company - Buys Peak Sensors Holdings Ltd, a Chesterfield-based manufacturer of temperature sensors, for a forecast total consideration of GBP2.4 million. Peak Sensors has a 5,300 square foot leasehold facility, and 14 employees. For the year ended March 31, the firm made revenue of GBP2.1 million, with earnings before interest and tax of GBP330,000.
Peak will join SDI's Sensors and Controls Division. SDI expects the acquisition to be earnings enhancing in the "first full year of ownership".
Chair Ken Ford says: "The acquisition of Peak is a further step in our group growth strategy, demonstrating again the opportunities to acquire businesses with high quality products with export growth potential. The acquisition is expected to be earnings enhancing in the first full year of ownership. We are delighted to welcome Roshan Aucklah, Peter Smith and their staff at Peak to the SDI Group."
Current stock price: 116.10 pence, down 4.8% in London on Monday afternoon
12-month change: down 28%
By Holly Beveridge, Alliance News reporter
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SDI Group (SDI)