Last checked at 2 Sep 2013 07:00
For Release
7.00 a.m., 2 September 2013
Acal plc
Acal expands UK business with the acquisition of Young Electronics Group
Acal plc (LSE: ACL, "Acal", the "Group"), a leading European specialist electronics supplier, is pleased to announce the acquisition of the trade and assets of Young Electronics Group ("YEG") for a total cash consideration of £1.7m before expenses, from H Young Holdings plc. The cash consideration has been paid from the Group's existing cash resources.
YEG is a specialist provider of electronic components, solutions and services, including solid state lighting, power, power cords and custom cable assembly, with a significant proportion of own label products sales. Based in High Wycombe and trading predominately in the UK and Ireland, YEG made a small operating loss during its year ended 31 December 2012.
The business will be integrated into Acal's Electronics division to generate operational synergies as well as opportunities for cross selling. Integration is expected to complete around the end of the financial year.
Nick Jefferies, Chief Executive of Acal plc said:
"The acquisition of the Young Electronics Group expands our existing technology areas as well as adding new ones. By integrating the operations into our Electronics division, we expect to create efficiency savings whilst retaining the commercial and technical capabilities. As a part of Acal, YEG gains access to over 25,000 customers, whilst Acal gains access to new technologies and products, both of which will create cross selling opportunities. We are delighted to welcome them into the Group."
For further information please contact:
Acal plc Nick Jefferies - Group Chief Executive Simon Gibbins - Group Finance Director
Cubitt Consulting Simon Brocklebank-Fowler Gareth David Cebuan Bliss
| Tel: 01483 544500
Tel: 020 7367 5100 |
Notes to Editors:
About Acal plc
Acal is a European leader in advanced technology solutions, providing marketing, engineering, design, manufacturing and other services through two divisions: Specialist Electronics and Supply Chain.
The Electronics division is a leading European specialist electronics supplier and the only such provider with an infrastructure to deliver a broad complementary range of specialist products and bespoke solutions across Europe. The Electronics division has completed six acquisitions in the last four years, more than doubling its underlying Electronics revenues. Acal's long term strategy is to gain significant additional market share through both organic growth and acquisition and to further enhance its value adding capabilities. The Supply Chain division provides inventory optimisation and outsource solutions to leading technology service providers.
Acal has operating companies across Europe including the UK, Germany, France, Benelux, Italy, Poland, Spain and the Nordic region. Additionally Acal has operating companies in Asia (China and South Korea) and Africa (South Africa).