discoverIE Group plc Completion of Distribution Businesses Disposals (6059D)
04 Março 2022 - 4:00AM
UK Regulatory
TIDMDSCV
RNS Number : 6059D
discoverIE Group plc
04 March 2022
7.00am, 4 March 2022
discoverIE Group plc
Completion of Distribution Businesses Disposals
discoverIE Group plc (LSE: DSCV, "discoverIE" or the "Group"), a
leading international designer and manufacturer of customised
electronics for industrial applications, today announces that the
sale of the Acal BFi distribution business has now completed.
The sale of Acal BFi to H2 Equity Partners was announced on 9
November 2021 subject to certain consultation requirements and
regulatory approvals which have now been received. Additionally the
sale of Vertec SA to its management team, which was announced on 4
October 2021 subject to regulatory approvals, completed in January.
Sale proceeds will be used to reduce the Group's net debt and to
progress the design and manufacturing growth strategy.
For further information please contact:
discoverIE Group plc 01483 544 500
Nick Jefferies, Group Chief Executive
Simon Gibbins, Group Finance Director
Buchanan 020 7466 5000
Chris Lane, Toto Berger, Jack Devoy
discoverIE@buchanan.uk.com
Notes to Editors:
About discoverIE Group plc
discoverIE Group plc is an international group of businesses
that designs and manufactures innovative electronic components for
industrial applications.
The Group provides application-specific components to original
equipment manufacturers ("OEMs") internationally through two
divisions, Magnetics & Controls and Sensing & Connectivity.
By designing components that meet customers' unique requirements,
which are then manufactured and supplied throughout the life of
their production, a high level of repeating revenue is generated
with long term customer relationships.
With a focus on key markets driven by structural growth and
increasing electronic content, namely renewable energy, medical,
transportation and industrial & connectivity, the Group aims to
achieve organic growth that is well ahead of GDP and to supplement
that with targeted complementary acquisitions. The Group has an
ongoing commitment to reducing the impact of its operations on the
environment, while its key markets are aligned with a sustainable
future.
The Group's continuing operations employs c.4,800 people and its
principal operating units are located in Continental Europe, the
UK, China, Sri Lanka, India and North America.
The Group is listed on the Main Market of the London Stock
Exchange and is a member of the FTSE250, classified within the
Electrical Components and Equipment subsector.
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March 04, 2022 02:00 ET (07:00 GMT)
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