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SDI Group PLC - Cambridge-based medical technology firm - Buys Fraser Anti-Static Techniques Ltd for an estimated £16.9 million, including around £3.9 million excess cash acquired. Consists of an initial consideration of £15.4 million, which represents a net £12.0 million payable in cash at completion, and a balancing payment in cash of about £1.5 million after completion. SDI says the acquisition is expected to be earnings enhancing in the current financial year.
SDI Chair Ken Ford says: "The acquisition of Fraser is a further step in our group growth strategy, demonstrating again the opportunities to acquire businesses with high quality products with export growth potential."
Fraser is a UK-based manufacturer of anti-static equipment, which eliminate, clean, generate or measure static electricity in industries including plastics, packaging, printing, food processing, medical, pharma, automotive and electronics. For financial 2021, it generated revenue of about £7.4 million and adjusted earnings before interest and tax of £1.6 million. Pretax profit was £1.9 million.
Current stock price: 178.02 pence, up 3.8% on Monday morning in London
12-month change: up 2.3%
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