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Judges Scientific unit acquires Crystallon

By BFN News | 07:25 AM | Tuesday 18 July, 2017


Judges Scientific's majority owned subsidiary Bordeaux has acquired 100% of the issued share capital of Crystallon, the holding company of Oxford Cryosystems Limited. Oxford Cryosystems is based in Long Hanborough, Oxfordshire, and manufactures cryogenic cooling systems used for X-Ray crystallography and other applications. Judges Scientific said its board expected the acquisition by Bordeaux to be immediately earnings enhancing for the group. The purchase price of Crystallon amounted to £4.495 million in cash. It said an additional payment would be made to reflect any excess cash and working capital over and above the ongoing requirements of the business and the board expected such payment to be covered by the cash inherited at the completion date. It said that in addition, an earn-out would be payable if Crystallon's adjusted EBITA in the financial year ending 30 November 2017 exceeded £0.899 million; the amount payable would be five times such excess, capped at £1.576 million. Story provided by StockMarketWire.com

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