26th Feb 2021 13:28
Porvair PLC - Norfolk, England-based filtration and environmental technology firm - Acquires designer and manufacturer of laboratory instruments Kbiosystems Ltd for an undisclosed amount. Notes Kbiosystems reported revenue of GBP3.8 million for its financial year ended March 31, 2020. Says Kbiosystems will continue to operate from its existing premises in Basildon, England and will be integrated into Porvair's Laboratory division.
"We have known the business for many years and there is a good fit between our laboratory consumables business and Kbiosystems instrument automation expertise. Together the businesses have a compelling offering for laboratories seeking to automate their sample testing processes," says Chief Executive Ben Stocks.
Current stock price: 564.32 pence
Year-to-date change: up 6.8%
By Zoe Wickens; [email protected]
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