Business
Acquisition of Trival
discoverIE Group plc has announced the acquisition of Trival, a Slovenian designer and manufacturer of communication antennae and masts for defence and professional applications, for an initial cash consideration of €45.5m (£39.9m), with potential deferred and earn-out payments totaling up to €7.15m (£6.25m). Trival, which reported unaudited revenues of €12.7m (£11.1m) for the twelve months ended 31 December 2024 and has an operating profit margin above discoverIE's 17% target, will join the Group's Connectivity operating unit. This acquisition, expected to be accretive to earnings and operating margin, will increase discoverIE's proforma gearing to 1.8x from 1.3x as of 30 September 2025, following the recent acquisition of Keymat Technology Ltd, remaining comfortably within the Group's target range. Disclaimer*
About this update from Discoverie Group Plc
[{"type":"text","content":"\n\n7.00am, 4 December 2025\n \ndiscoverIE Group plc\n \nAcquisition of Trival - focused on security 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, subject to certain regulatory approvals, of Trival Antene d,o,o (\"Trival\"), a Slovenian-based designer and manufacturer of communication antennae and masts for defence and professional applications.\n \nTrival is being acquired for an initial cash consideration of €45.5m (£39.9m) on a debt free, cash free basis, before expenses, and will be funded from the Group's existing debt facilities. In addition, deferred consideration of up to €1.65m (£1.45m) will be payable subject to certain conditions twelve months from completion and an earn-out of up to €5.5m (£4.8m) will be payable subject to Trival achieving certain growth and performance conditions in the period up to 31 March 2028.\n \nFounded in 1965, Trival produces antennae used principally in land-based defence applications including handheld, manpack, mobile and fixed radio communications systems and sells internationally into c.70 countries. The acquisition is consistent with discoverIE's strategy of targeting long-term growth markets, in this case the security market, where other businesses in the Group will benefit from access to its extensive customer base and proven sales channels.\n \nTrival, under its existing ongoing management, will join the Group's Connectivity operating unit within the Sensing & Connectivity division, retaining its distinct brand identity. It has a strong financial track record, with unaudited revenues for the 12 months ended 31 December 2024 of €12.7m (£11.1m) and an adjusted operating profit margin that is well above discoverIE's medium-term target of 17%.\n \nThis acquisition is subject to receipt of regulatory approvals with completion expected by the end of this financial year. From completion, the acquisition will be accretive to both the Group's adjusted earnings and operating margin. Including the acquisition of Keymat Technology Ltd which was recently signed, the Group's proforma gearing1 at 30 September 2025 will increase from 1.3x to 1.8x, comfortably within our target range. The Group retains s...