Acquisition of Bossa Nova Vision LLC

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 David Cicurel, CEO Brad Ormsby, Group FD Yann Leray, Dia-Stron MD Tel: [phone]	Shore Capital (Nominated Adviser & Joint Broker) Stephane Auton Iain Sexton Tel: [phone]
Liberum (Joint Broker) Edward Mansfield William Hall Tel : [phone]	Investec Bank plc (Joint Broker) Virginia Bull Carlton Nelson Tel: [phone]
Alma PR (Financial Public Relations) Sam Modlin Justine James Joe Pederzolli Tel: [phone] [e-mail]

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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