Business
Acquisition of 3Gmetalworx
discoverIE Group plc has acquired a 90% interest in North American-based 3Gmetalworx for US$67.5m (£50.0m) in cash, funded by existing debt facilities, to bolster its presence in security and defence markets. 3Gmetalworx, which designs and manufactures electromagnetic shielding and thermal management products, reported unaudited revenues of $19.6m (£14.5m) for the 12 months ended 31 December 2025, with an adjusted operating profit margin exceeding discoverIE's 17% target. This acquisition is expected to be immediately accretive to the Group's adjusted earnings and operating margin, increasing proforma consensus gearing from 1.7x to 2.2x as of 31 March 2026, with a projected return to approximately 1.8x by the financial year-end. Disclaimer*
About this update from Discoverie Group Plc
[{"type":"text","content":"\n\n7.00am, 19 May 2026\n \n \ndiscoverIE Group plc\n \nAcquisition of 3Gmetalworx\n \nNorth American acquisition with primary focus on security & defence market\n \ndiscoverIE Group plc (LSE: DSCV, \"discoverIE\" or the \"Group\"), a leading international designer and manufacturer of customised electronics to industry, today announces the acquisition, of a 90% interest in 3Gmetalworx (\"3G\"), a North American-based designer and manufacturer of electromagnetic shielding products for the electronics industry. \n \nThe interest in 3G is being acquired for a cash consideration of US$67.5m (£50.0m) on a debt free, cash free basis which will be funded from the Group's existing debt facilities. 3G management, who retain a 10%(1) interest, will remain in the business to deliver growth objectives into the medium term. The acquisition supports our 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.\n \nFounded in 1994, 3G designs and manufactures electromagnetic shielding and thermal management products for use in electronic equipment with its main markets being aerospace & defence, commercial space satellite and industrial. Demand for these products is growing rapidly as communication needs continue to increase. The business has production and sales facilities in Toronto, Canada and in the US in St. Petersburg (Florida) and Oceanside (California). \n \n3G will join the Group's Connectivity operating unit within the Sensing & Connectivity division, retaining its distinct brand identity. It will work alongside MTC, our existing European based electromagnetic shielding business, which has achieved strong, consistent sales and profit growth since being acquired in 2011. Other businesses in the Group will also benefit from access to 3G's extensive customer base and sales channels, particularly in North America.\n \nThe business has a strong financial track record, with unaudited revenues for the 12 months ended 31 December 2025 of $19.6m (£14.5m) and an adjusted operating profit margin that is well ahead of discoverIE's medium-term target of 17%.\n \nThis acquisition is subject to receipt of regulatory approvals with c...