(Sharecast News) - Digital imaging and sensing technology developer SDI Group announced the completed acquisition of Peak Sensors on Monday.
The AIM-traded company said the strategic move carried a total consideration of around £2.4m.
It described Peak Sensors as a prominent UK-based manufacturer that produces temperature sensors, focusing on standard and custom thermocouples and resistance thermometers.
The sensors find applications across various industries, including glass, ceramics, and incinerators, including energy from waste, cement, and ovens.
Based in Chesterfield, Peak Sensors operates out of a 5,300-square-foot leasehold facility and employs 14 people.
The company reported revenues of £2.1m for the year ended 31 March, with EBIT of about £0.33m.
Following the acquisition, Peak Sensors would become a part of SDI's sensors and controls division.
The board said the integration was expected to yield positive financial results, with earnings enhancement anticipated in the first full year of ownership.
"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," said chairman Ken Ford.
"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."
Reporting by Josh White for Sharecast.com.
SDI Group (SDI)