5th Apr 2019 10:29
LONDON (Alliance News) - Scientific Digital Imaging PLC said Friday it acquired flowmeters firm MPB Industries Ltd for GBP1.6 million in cash on Thursday.
Shares in Scientific Digital Imaging were 10% higher at 51.50 pence on Friday.
MPB - whose flow alarms, indicators and switches are used across the industrial and scientific sector - generated GBP310,000 in earnings before interest and tax on revenue of GBP1.90 million in 2018.
For comparison, Scientific Digital Imaging generated GBP1.8 million in Ebit on GBP9.5 million revenue for the year ended April 2018.
"We are delighted to welcome MPB into the SDI family," Scientific Digital Imaging Chair Ken Ford said.
"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," Ford added. "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."
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