SDI Group fills vacuum with £4.9 million acquisition
SDI Group plc, a scientific and technology products specialist based in Cambridge, has acquired Scientific Vacuum Systems Ltd (SVS) – a UK manufacturer of physical vapour deposition equipment – in a £4.9 million deal.
SVS specialises in custom Physical Vapour Deposition (PVD) systems for the deposition of thin film coatings typically on semiconductor wafers.
These are used in scientific research, industrial and semiconductor manufacturing applications and SVS is a market leader. Its revenues for the year to September 2021 were around £2.5m and EBIT £0.7m.
SDI chairman Ken Ford said: “The acquisition of SVS is a further step in our group growth strategy and will reside within our Sensors and Controls division.
“The acquisition is expected to be immediately earnings enhancing. We are delighted to welcome Terry Shimell, Philip Eames and their highly technical staff to the SDI Group.”
Ford also disclosed that its Atik Cameras division had received a further firm order for cameras to be used in PCR machines, for delivery in the year ending 30 April 2023 – extending a series of orders related to the COVID-19 pandemic.
SDI, which focuses on the design and manufacture of scientific and technology products for use in digital imaging and sensing control applications, reveals that CFO Jon Abell plans to retire this summer and step down from the board.
The change is expected to take effect following the publication of the company’s final results for the year ended 30 April. The board has started the search for his successor and there will be an orderly handover period to ensure a smooth transition.