Judges Scientific plc Acquires Fire Instrumentation & Research Equipment
Judges Scientific, a group involved in the buy and build of scientific instrument businesses, is pleased to announce that the Company's wholly-owned subsidiary, Fire Testing Technology ("FTT"), has acquired the business of Fire Instrumentation & Research Equipment ("FIRE").
FIRE is a highly regarded fire testing equipment manufacturing and servicing business. FTT is purchasing the goodwill and a selection of assets from FIRE and is assuming certain liabilities. The purchase consideration is not material in the context of the annual revenues of the Judges Group.
The business will be transferred to FTT's factory in East Grinstead and the transaction is expected to further FTT's pursuit of excellence in terms of:
- Cross utilisation of state of the art features of respective ranges;
- Consolidation of software development; and
- Servicing customers worldwide.
Dr Sean Gregory, Managing Director of FTT, said: "I have every confidence that our alliance with a business of FIRE's calibre will yield significant operating benefits."
Judges Scientific plc, is a group involved in the buy and build of scientific instrument businesses. The Group currently consists of 12 businesses acquired since it was first admitted to AIM in 2003.
The acquired companies are primarily UK-based with products sold worldwide to a diverse range of markets including: higher education institutions, the scientific communities, manufacturers and regulatory authorities. The UK is a recognised centre of excellence for scientific instruments. The Group holds 5 Queens' awards for innovation and export.
Judges Scientific maintains a policy to selectively acquire businesses that generate sustainable profits and cash. Shareholder returns are created through the repayment of debt, organic growth and dividends.
The Group's companies predominantly operate in niche end markets, with long term growth fundamentals and resilient margins.