Business
Acquisition of Safelab Systems Limited and TVR
Acquisition of Safelab Systems Limited and TVR.
About this update from Sdi Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1408G\n SDI Group PLC\n 28 March 2022\n \n \n \n \n SDI Group plc\n \n \n (\"SDI\", \"SDI Group\", the \"Company\" or the \"Group\")\n \n \n (AIM: SDI)\n \n \n \n \n \n Acquisition of Safelab Systems Limited \n \n \n and Total Voting Rights \n \n \n SDI Group plc, the AIM quoted Group focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing control applications, is pleased to announce the acquisition on 24 March 2022 of Safelab Systems Limited (\"Safelab\"), a UK manufacturer of fume cupboards (the \"Acquisition\"). Total consideration is forecast to be approximately £7.7 million, net of cash acquired.\n \n \n \n \n \n Highlights:\n \n \n \n · \n Safelab produces high specification fume cupboards and similar cabinets, for both commercial and research laboratories and with a special focus on the education sector which requires versatile and fully-featured ducted cabinets often specified in newly built or refurbished laboratory facilities\n \n \n · \n Safelab's cabinets are designed and manufactured in a dedicated facility in Weston-Super-Mare\n \n \n · \n Revenues for the year ended 28 February 2022 are expected to be approximately £4.8m, with adjusted EBIT of £0.9 million \n \n \n · \n Acquisition expected to be broadly neutral to FY2022 profit and earnings enhancing in FY2023 \n \n \n · \n Follows SDI's December 2020 acquisition of Monmouth Scientific Limited, a manufacturer of clean rooms, fume cabinets and safety cabinets based in Bridgwater. The Company expects to maintain the identity and autonomy of both companies in their current locations, while looking for opportunities to enhance the total customer offer\n \n \n \n \n \n \n \n Ken Ford, Chairman of SDI said:\n \n \n \"The acquisition of Safelab is another step in our Group growth strategy, and the second significant acquisition of the financial year, demonstrating again the opportunities to acquire in sectors related to our existing portfolio. The Acquisition is expected to be earnings enhancing in FY2023. We are delighted to welcome Roger Guess and his staff to the SDI Group.\"\n \n \n \n \n \n \n \n \n \n FURTHER INFORMATION ON THE ACQUISITION IS SET OUT BELOW\n \n \n \n \n \n \n \n \n Enquiries\n \n \n \n SDI Group plc\n \n \n \n ...