SDI makes fourth acquisition with £1.6m MPB deal
Scientific Digital Imaging in Cambridge has made its fourth significant acquisition in the current financial year with a £1.6 million swoop for MPB Industries in Kent. The deal was funded out of existing cash resources.
MPB designs and manufactures flowmeters and process control instrumentation, with applications in water treatment, oil and gas production, medical anaesthesia, scientific analysis and many other areas.
It will become part of SDI’s Sensors & Control operating segment.
For the year ended December 31 MPB achieved revenues of £1.90m, gross profit of £1.28m and PBIT of £0.31m.
The acquisition marks a continuation of SDI’s strategy of acquiring profitable and complementary businesses characterised by their leadership in niche segments of the scientific and industrial instrumentation sector, with good presence in export markets together with strong management.
The acquisition is expected to be earnings enhancing in SDI’s next financial year starting May 1.
SDI chairman Ken Ford said: “We are delighted to welcome MPB into the SDI family. MPB’s flowmeters are recognised for their quality across a broad set of end markets, and their technology and applications nicely complement those of other businesses in our Sensors & Control segment.
“MPB is SDI’s fourth significant acquisition in this financial year which has seen the Group expand across its two principal operating segments and highlights our position as an acquirer of choice in our sector.”
AIM quoted SDI is focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing and control applications.
Total consideration for the Acquisition, paid in cash at completion, was £1,586,000. SDI has funded the consideration from existing cash resources.