Business
Acquisition of Applied Thermal Control Limited
Acquisition of Applied Thermal Control Limited.
About this update from Sdi Group Plc
[{"type":"text","content":"\n \nRNS Number : 8365O Scientific Digital Imaging Plc 24 August 2017 \n\nScientific Digital Imaging plc\n(\"SDI\", the \"Company\" or the \"Group\")\n(AIM: SDI)\n \nAcquisition of Applied Thermal Control Limited\nand Issue of Equity\nThe Board of Scientific Digital Imaging plc, the AIM quoted group focused on the design and manufacture of scientific and technology products for use by the life science, healthcare, astronomy, consumer manufacturing and art conservation markets, is pleased to announce the acquisition of Applied Thermal Control Limited (\"ATC\") for an initial consideration of £686,000, with the total consideration (including earn-out) capped at £1.2 million, plus an additional cash payment for net assets at completion (the \"Acquisition\").\n \nHighlights:\n \n· ATC designs and manufactures precision re-circulating chillers, coolers and heat exchangers used to control the thermal environment within a wide variety of applications including within the scientific instrument support market (including electron microscopes, X-ray, diffraction and mass spectrometers).\n \n· For the year ended 31 December 2015, ATC achieved revenue of £1.12 million, gross profit of £689,000 and profit before tax of £196,000. For the year ended 31 December 2016, ATC achieved revenue of £1.20 million, gross profit of £755,000 and profit before tax of £129,000, the lower profit before tax in 2016 reflecting the cost of investment for growth in sales and marketing. \n \n· The Acquisition is in line with the Group's strategy of acquiring complementary businesses and the Board has identified areas within ATC with potential for growth.\n \n \nKen Ford, Chairman of SDI said:\n\"ATC represents another exciting step in our Group growth strategy. ATC is a complementary fit to the Group and provides potential areas for growth alongside a talented workforce. The acquisition is in line with our previously announced acquisition strategy and is expected to be earnings enhancing in its first full year of ownership.\"\n \nAbout Applied Thermal Control Limited\nATC designs and manufactures precision re-circulating chillers, coolers and heat exchangers used to control the thermal environment within a wide variety of applicat...