LONDON, UK: SDI Group plc introduced the acquisition of Safelab Systems Limited, a UK producer of fume cupboards. Total consideration is forecast to be roughly £7.7 million, net of money acquired.
Highlights:
· Safelab produces excessive specification fume cupboards and similar cabinets, for each commercial and analysis laboratories and with a particular focus on the education sector which requires versatile and fully-featured ducted cupboards often laid out in newly constructed or refurbished laboratory facilities
· Safelab’s cupboards are designed and manufactured in a devoted facility in Weston-Super-Mare
· Revenues for the year ended 28 February 2022 are anticipated to be roughly £4.8m, with adjusted EBIT of £0.9 million
· Acquisition anticipated to be broadly impartial to FY2022 revenue and earnings enhancing in FY2023
· Follows SDI’s December 2020 acquisition of Monmouth Scientific Limited, a producer of clear rooms, fume cupboards and security cupboards based in Bridgwater. The Company expects to maintain the identity and autonomy of each companies of their present locations, whereas looking for alternatives to improve the total buyer offer
Ken Ford, Chairman of SDI said: “The acquisition of Safelab is one other step in our Group growth strategy, and the second significant acquisition of the monetary year, demonstrating once more the alternatives to purchase in sectors associated to our existing portfolio. The Acquisition is anticipated to be earnings enhancing in FY2023. We are delighted to welcome Roger Guess and his staff to the SDI Group.”
SDI designs and manufactures scientific and technology merchandise to be used in digital imaging and sensing and management applications together with life sciences, healthcare, astronomy, manufacturing, precision optics and artwork conservation. SDI operates through its firm divisions: Atik Cameras, Synoptics, Graticules Optics, Sentek, Astles Control Systems, Applied Thermal Control, MPB Industries, Chell Instruments, Monmouth Scientific, Uniform Engineering, Scientific Vacuum Systems and Safelab Systems. www.thesdigroup.net