Acal PLC Acquisition (7791E)
November 06 2015 - 2:00AM
UK Regulatory
TIDMACL
RNS Number : 7791E
Acal PLC
06 November 2015
7.00am, 6 November 2015
Acal plc
Acquisition of Flux AS
Acal plc (LSE: ACL, "Acal" or the "Group"), a leading
international supplier of customised electronics to industry, is
pleased to announce the acquisition of Flux AS ("Flux") for a
consideration of DKK 39m (GBP3.7m) on a debt free, cash free basis,
before expenses. The acquisition is being funded from Acal's
existing debt facilities and is expected to be immediately earnings
enhancing.
Flux, which is headquartered in Denmark and has a manufacturing
facility in Thailand, is a designer and manufacturer of customised
magnetic components for use across the range of industrial, high
reliability and space grade applications.
Revenues for the year ended 31 December 2014 were DKK 89m
(GBP8.5m) generating a pre-tax profit of DKK 7.2m (GBP0.7m), and
GBP0.5m on an underlying(1) basis. Gross assets at 31 December 2014
were DKK 53m (GBP5.0m).
The business will operate within Acal's Design &
Manufacturing division and will build on Acal's growing custom
magnetics capabilities, following on from the acquisitions of
Noratel and Myrra. With Flux benefitting from access to Acal's
broad customer base and international reach, the acquisition is
expected to create new revenue opportunities from cross-selling
across the Group.
Flux has been acquired from Niels Overgaard Christensen Holdings
AS, a Danish company founded in 1980 and which is wholly-owned by
Mr Niels Overgaard Christensen. The existing management will
continue with the business and Mr Overgaard Christensen will remain
as a consultant.
Nick Jefferies, Group Chief Executive of Acal plc, said:
"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.
As part of the Acal Group, Flux will gain access to our base of
over 20,000 customers, many of whom have a requirement for products
that can operate to a higher reliability standard in a harsh
environment.
We are delighted to welcome Flux into the Group."
For further information please contact:
Acal plc
Nick Jefferies - Group Chief Executive
Simon Gibbins - Group Finance Director 01483 544 500
Instinctif
Mark Garraway
Helen Tarbet 020 7457 2020
James Gray
Notes
1. Underlying profits exclude exchange rate effects and discontinued activities.
About Acal plc
Acal is a leading supplier of customised electronics to
industry. It designs, manufactures and distributes
customer-specific electronic products and solutions to 25,000
industrial manufacturers and is listed on the London Stock Exchange
(LSE: ACL).
Acal has two divisions: Custom Distribution and Design &
Manufacturing. The majority of its sales comes from products and
solutions which are either created uniquely for a customer or
sourced exclusively. Acal works across a range of technologies,
namely Communications & Sensors, Electromechanical, Imaging
& Photonics, Embedded Computers & Displays, and Power &
Magnetics.
Acal operates through the following wholly-owned businesses:
Acal BFi, Foss, Hectronic, MTC, Myrra, Noratel, RSG, Stortech and
Vertec. It has operating companies and manufacturing facilities in
a number of markets, including the UK, Germany, France, the Nordic
region, Benelux, Italy, Poland, Slovakia and Spain, as well as in
Asia (China, India, Sri Lanka and South Korea), the US and South
Africa.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 06, 2015 02:00 ET (07:00 GMT)