LONDON: The Board of Scientific Digital Imaging plc, the AIM quoted group focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing and control applications, has acquired MPB Industries Limited (MPB) for a consideration of £1.586 million, a bourse filing said.
MPB designs and manufactures flowmeters and process control instrumentation, with applications in water treatment, oil and gas production, medical anaesthesia, scientific analysis and many other areas.
MPB will become part of the Group’s Sensors & Control operating segment. For the year ended 31 December 2018, MPB achieved revenues of £1.90 million, gross profit of £1.28 million.
The acquisition marks a continuation of the Group’s strategy of acquiring profitable complementary businesses characterized by their leadership in niche segments of the scientific and industrial instrumentation sector, with good presence in export markets together with strong management
The acquisition is expected to be earnings enhancing in SDI’s next financial year commencing 1 May 2019.
Ken Ford, Chairman of SDI said: “We are delighted to welcome MPB into the SDI family. MPB’s flowmeters are recognized 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. 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.”[the_ad id=”31605”]