SDI Group PLC - Cambridge-based medical technology firm - Will acquire UK manufacturer of fume cupboards Safelab Systems Ltd for £7.7 million in cash and shares.

SDI will pay an initial consideration of £5.5 million of which £5.3 million will be in cash and £200,000 in shares at a price of 169.9 pence per share, with the remaining cash to be paid shortly after completion.

Acquisition is expected to be broadly neutral to profit for SDI’s 2022 financial year and earnings enhancing for 2023.

‘The acquisition of Safelab is another step in our group growth strategy, and the second significant acquisition of the financial year, demonstrating again the opportunities to acquire in sectors related to our existing portfolio. The acquisition is expected to be earnings enhancing in FY2023. We are delighted to welcome Roger Guess and his staff to the SDI Group,’ said Chair Ken Ford.

Current stock price: 182.00 pence

12-month change: up 4.2%

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