discoverIE Group PLC to acquire well-established German designer and manufacturer of sensors

DiscoverIE Group PLC (), the customised electronic parts specialist, mentioned it has purchased Limitor, a German designer and company of thermal basic safety parts and sensors.

DiscoverIE is initially having to pay €14.5mln to acquire Limitor on debt-free, cash-free basis, which will be funded from the group’s present debt services.

A contingent payment of €3.5mln may be induced based on the general performance of the acquired small business more than the following a few a long time.

The acquisition, which is envisioned to enrich the group’s underlying earnings and beef up its underlying functioning margin, is subject to regulatory approvals, which are envisioned to be obtained in the initial quarter of following year.

Limitor has done continuously properly more than new a long time, discoverIE mentioned, with revenues for 2019 of €8.2mln creating a reported pre-tax earnings of €1.7mln, and an functioning margin of 21{ae9868201ea352e02dded42c9f03788806ac4deebecf3e725332939dc9b357ad}. Gross assets at the stop of 2019 stood at €3.9mln.

Investing more than the previous twelve months has also been resilient, the Uk organization included.

“The acquisition of Limitor carries on our strategy of creating a differentiated, international, development-concentrated electronics team with solid functioning margins and will be accretive. Limitor has a extended-proven observe history of producing and giving significant-top quality custom sensors internationally, principally for basic safety purposes,” mentioned Nick Jefferies, the chief executive of discoverIE in a statement.

“Operating inside our Variohm cluster of sensor organizations, it will gain entry to our broader foundation of prospects and with it, new product sales opportunities in our target marketplaces. We are delighted to welcome the Limitor crew into discoverIE Group,” he included.