SDI Group PLC Acquisition of Uniform Engineering
01 Febrero 2021 - 1:00AM
RNS Non-Regulatory
TIDMSDI
SDI Group PLC
01 February 2021
SDI Group plc
("SDI", the "Company" or the "Group")
Acquisition of business and assets of Uniform Engineering
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 and control applications, is pleased to
announce a bolt on acquisition by its subsidiary Monmouth
Scientific Limited ("Monmouth Scientific") on 29 January 2021 of
the business and certain net assets of Uniform Engineering
("Uniform"), a component supplier to Monmouth Scientific, for a
cash consideration of GBP350,000 (the "Acquisition").
Uniform is a manufacturer of high-quality bespoke metal
enclosures and housings used in a variety of applications including
pharmaceutical, laboratory and safety equipment. Uniform currently
supplies Monmouth Scientific and other businesses. The Acquisition
ensures security of supply to Monmouth Scientific, with the
potential to grow Uniform's business in future including
potentially supplying other SDI Group divisions.
Uniform's revenues (unaudited) for the year to 31 May 2020 were
GBP1.0 million and profit before tax (unaudited) was GBP0.1
million. The business and certain net assets are being acquired by
way of an asset purchase agreement entered in to with the owner
manger (a sole trader business) who is now retiring. The cash
consideration will be funded from the Group's existing revolving
credit facility. The net assets acquired are expected to be valued
at approximately GBP0.1 million (subject to completion accounts).
Uniform, based in Highbridge, Somerset, will maintain its separate
leased premises and continue to serve its loyal customer base, with
the business now being managed as part of SDI Group's recently
acquired Monmouth Scientific division.
Ken Ford, Chairman of SDI said: "We are very pleased to welcome
the staff of Uniform Engineering to the SDI Group, supporting the
further development of Monmouth Scientific."
Enquires
SDI Group plc
Ken Ford, Chairman
Mike Creedon, CEO
Jon Abell, CFO
www.thesdigroup.net 01223 727144
finnCap Ltd
Ed Frisby/Kate Bannatyne - Corporate Finance
Andrew Burdis/Sunila de Silva - ECM 020 7220 0500
JW Communications
Julia Wilson - Investor & Public Relations 07818 430 877
About SDI Group plc:
SDI designs and manufactures scientific and technology products
for use in digital imaging and sensing and control applications
including life sciences, healthcare, astronomy, manufacturing,
precision optics and art conservation. SDI operates through its
company divisions: Atik Cameras, Synoptics, Graticules Optics,
Sentek, Astles Control Systems, Applied Thermal Control, MPB
Industries, Chell Instruments and Monmouth Scientific.
SDI continues to grow by developing its own technology
advancements and by improving its global sales channels, as well as
through pursuing strategic, complementary acquisitions.
www.thesdigroup.net
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