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DiscoverIE completes acquisition of Limitor
StockMarketWire.com
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Customised electronics maker DiscoverIE said it had completed the acquisition of Limitor for up to €18 million.
The acquisition of Limitor was announced on 4 December 2020, and was conditional on regulatory approvals, which had now been received, the company said.
Limitor had been acquired for an initial €14.5m (£12.8m) on a debt free, cash free basis, before expenses. The deal also included a earn out provision of up to €3.5m (£3.1m) should the business achieve certain profit growth targets over the next three years, it added.
Limitor, founded in 1979, designed and manufactured custom thermal safety components for industrial markets.
At 10:11am: (LON:DSCV) Discoverie Group Plc share price was 0p at 632p
Story provided by StockMarketWire.com
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