Business
Acquisition of EWB Solutions Ltd
Acquisition of EWB Solutions Ltd.
About this update from Judges Scientific Plc
[{"type":"text","content":"\n \nRNS Number : 3603Q Judges Scientific PLC 29 November 2016 \n\n \n\n\n\n\nPress Release\n\n\n29th November 2016\n\n\n\n\n \nJudges Scientific plc\n \n(\"Judges Scientific\", \"Judges\", the \"Company\" or the \"Group\")\n \nAcquisition of EWB Solutions Ltd\n \nJudges Scientific, a group involved in the buy and build of scientific instrument businesses, announces that it has today acquired 100% of the issued share capital of EWB Solutions Ltd (\"EWB\" or the \"Acquisition\"), a maker of scientific devices based in Hemel Hempstead, Hertfordshire. EWB manufactures edge-welded bellows used in Ultra High Vacuum (\"UHV\") systems and various other applications. The Board expects the Acquisition to be immediately earnings enhancing. \nThe purchase price of EWB amounted to £1.76 million in cash. An additional payment will be made to reflect any excess working capital over and above the ongoing requirements of the business. The Board expects such payment to be covered by the cash inherited at the completion date. \nInformation on EWB\nEWB specialises in the design and manufacture of edge-welded bellows. The product is constructed from a series of metal diaphragms, welded to form an accordion like structure that permits free movement between two environments whilst maintaining hermetic separation. \nThe majority of EWB's products are bespoke and sold directly to original equipment manufacturers (\"OEMs\") for integration into UHV systems; these provide high tech surface analysis & processing techniques, for use in semi-conductor manufacturing, nano-technology, nuclear science & general research. Other applications include aerospace, medical and industrial devices. Because of the OEM business bias, 85% of sales are within the UK but a significant proportion of EWB products used in system integration are built for export. \nEWB was established in 1999 by Peter Moody, Steve Edwards and Bryan ...