6th Nov 2015 09:02
LONDON (Alliance News) - Electronics supplier Acal PLC on Friday said it has struck a deal to buy Denmark-based Flux AS For GBP3.7 million in cash.
Acal said the acquisition will be immediately earnings-accretive and said the consideration has been funded from existing resources.
Flux designs and manufactures customised magnetic components used in industrial and space-grade applications.
"The acquisition of Flux is in line with our strategy of building a differentiated, higher margin group by buying specialist businesses which fit with our organic growth initiatives. Flux has a long established track record of designing and manufacturing high performance custom magnetic products," said Nick Jefferies, Acal's chief executive.
Acal shares were up 4.4% to 255.75 pence on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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