TIDMJDG

RNS Number : 1762P

Judges Scientific PLC

16 February 2021

 
Press Release  16 February 2021 
 

Judges Scientific plc

("Judges Scientific", "Judges", the "Company" or the "Group")

Increased shareholding in Bordeaux Acquisition Limited

Judges Scientific, a group focused on acquiring and developing companies in the scientific instrument sector , announces that it has increased its interest in its majority owned subsidiary Bordeaux Acquisition Limited ("Bordeaux") from 75.5% to 88%.

In 2011, Judges purchased Deben UK Limited through Bordeaux, a newly created buy-out vehicle; Bordeaux was owned by Judges (51%) and the Deben UK vendors (49%). In 2017, Bordeaux acquired Oxford Cryosystems Limited and Judges increased its stake to 75.5%.

Judges has now purchased a further 12.5% of Bordeaux's issued share capital. The price of the transaction was GBP1.8m, based on an enterprise value of GBP12.9m for 100% of Bordeaux plus excess cash. In 2020, Bordeaux generated GBP2.8m EBIT.

The Board of Judges expects the transaction to be immediately earnings enhancing for the Group.

 
 For further information please contact: 
Judges Scientific plc                                  Tel: 020 3829 6970 
 David Cicurel, CEO 
 Brad Ormsby, FD 
Shore Capital (Nominated Adviser & Broker)             Tel: 020 7408 4090 
 Stephane Auton 
 Edward Mansfield 
 Sarah Mather 
Liberum (Joint Broker)                                 Tel: 020 3100 2222 
 Bidhi Bhoma 
 Euan Brown 
 
 Alma PR (Financial Public Relations)                   Tel: 020 3405 0205 
 Sam Modlin 
 Justine James 
 

Notes to editors:

Judges Scientific plc (AIM: JDG), is a group focused on acquiring and developing companies in the scientific instrument sector . The Group consists of 19 businesses acquired since it was re-admitted to AIM in 2005.

The acquired companies are primarily UK-based with products sold worldwide to a diverse range of markets including: higher education institutions, the scientific communities, manufacturers and regulatory authorities. The UK is a recognised centre of excellence for scientific instruments. The Group companies hold five Queen's Awards for innovation and export.

The Group's companies predominantly operate in global niche markets, with long term growth fundamentals and resilient margins.

Judges Scientific maintains a policy of selectively acquiring businesses that generate sustainable profits and cash. Shareholder returns are created through the repayment of debt, organic growth and dividends.

For further information, please visit www.judges.uk.com

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February 16, 2021 02:00 ET (07:00 GMT)

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