Judges Scientific PLC Acquisition of Bossa Nova Vision LLC (9811X)
02 Maio 2023 - 3:00AM
UK Regulatory
TIDMJDG
RNS Number : 9811X
Judges Scientific PLC
02 May 2023
Judges Scientific plc
("Judges Scientific", "Judges", the "Company" or the
"Group")
Acquisition of Bossa Nova Vision LLC
Judges Scientific, a group focused on acquiring and developing
companies in the scientific instrument sector, announces that its
subsidiary Dia-Stron Inc. has acquired 100% of the issued share
capital of Bossa Nova Vision LLC ("BNV" or the "Acquisition"), a
company specialising in imaging measurement technology for the
cosmetics industry based in Los Angeles, California, USA. The Board
expects the Acquisition to be immediately earnings enhancing.
The consideration for BNV is $1.6 million in cash. The
consideration for the Acquisition and associated transaction costs
have been funded from the Group's cash balances. On 24(th) March
2022, Dia-Stron had agreed a commercial cooperation agreement with
BNV and a call option to acquire its shares. BNV generated
$0.4million EBIT in calendar 2022.
This Acquisition is strategically complementary to Dia-Stron's
existing business which provides measurement solutions for hair
tresses and fibres in the personal care market, together with
natural and synthetic fibres in the composite sector.
Yann Leray, Managing Director of Dia-Stron, said: "We are
pleased to welcome the BNV team to the Judges family. The Dia-Stron
management and the Judges Board believe that BNV is a solid,
growing and profitable company manufacturing quality products and
that our customers will greatly benefit from BNV's complementary
offering."
Information on BNV
BNV specialises in the design and manufacture of imaging
instruments and software used for cosmetic product testing.
BNV was established in 2018 by Sebastien Breugnot and his
colleagues; they will remain with BNV post-completion.
For further information please contact:
Judges Scientific plc Shore Capital (Nominated Adviser
David Cicurel, CEO & Joint Broker)
Brad Ormsby, Group FD Stephane Auton
Yann Leray, Dia-Stron MD Iain Sexton
Tel: +44 (0) 20 3829 6970 Tel: +44 (0) 20 7408 4090
Liberum (Joint Broker) Investec Bank plc (Joint Broker)
Edward Mansfield Virginia Bull
William Hall Carlton Nelson
Tel : +44 (0) 20 3100 2222 Tel: +44 (0) 207 597 4000
Alma PR (Financial Public
Relations)
Sam Modlin
Justine James
Joe Pederzolli
Tel: +44 (0) 20 3405 0205
judges@almapr.co.uk
Notes to editors:
Judges Scientific plc (AIM: JDG), is a group focused on
acquiring and developing companies in the scientific instrument
sector. The Group now consists of 22 businesses acquired since
2005.
The acquired companies are primarily UK-based with products sold
worldwide to a diverse range of markets including: higher education
institutions, scientific research facilities, manufacturers and
regulatory authorities. The UK is a recognised centre of excellence
for scientific instruments. The Group has received five Queen's
Awards for innovation and export.
The Group's companies predominantly operate in global niche
markets, with long term growth fundamentals and resilient
margins.
Judges Scientific maintains a policy of selectively acquiring
businesses that generate sustainable profits and cash. Shareholder
returns are created through the reduction of debt, organic growth
and dividends.
For further information, please visit www.judges.uk.com
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END
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