2nd Dec 2019 11:58
(Alliance News) - SDI Group PLC on Monday said it has bought Chell Instruments Ltd on Friday last week for GBP4.3 million plus an additional cash payment for net assets at completion.
Chell specialises in the design, manufacture and calibration of pressure, vacuum and gas flow measurement instruments for a variety of sectors.
The company formerly known as Scientific Digital Imaging said it expects the acquisition to be earnings enhancing in its first full year of ownership.
For 2018, Chell generated revenue of GBP4.7 million and pretax profit of GBP780,000.
"Chell Instruments is another step in our group growth strategy. It is a complementary fit providing potential areas for growth," explained SDI Chair Ken Ford.
Shares in the AIM-listed digital imaging products maker were trading 11% higher in London on Monday at 74.00 pence each.
By Evelina Grecenko; [email protected]
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