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Judges ScientificPLC (JDG)

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Tuesday 16 February, 2021

Judges ScientificPLC

Increased shareholding in Bordeaux Acquisition Ltd

RNS Number : 1762P
Judges Scientific PLC
16 February 2021
 

Press Release

16 February 2021

 

Judges Scientific plc

 

("Judges Scientific", "Judges", the "Company" or the "Group")

 

Increased shareholding in Bordeaux Acquisition Limited

 

Judges Scientific, group focused on acquiring and developing companies  in the scientific instrument sector , announces that it has increased its interest in its majority owned subsidiary Bordeaux Acquisition Limited ("Bordeaux") from 75.5% to 88%.

In 2011, Judges purchased Deben UK Limited through Bordeaux, a newly created buy-out vehicle; Bordeaux was owned by Judges (51%) and the Deben UK vendors (49%). In 2017, Bordeaux acquired Oxford Cryosystems Limited and Judges increased its stake to 75.5%.

Judges has now purchased a further 12.5% of Bordeaux's issued share capital. The price of the transaction was £1.8m, based on an enterprise value of £12.9m for 100% of Bordeaux plus excess cash. In 2020, Bordeaux generated £2.8m EBIT.

The Board of Judges expects the transaction to be immediately earnings enhancing for the Group. 

 

 For further information please contact:

 

 

Judges Scientific plc

David Cicurel, CEO

Brad Ormsby, FD

 

Tel: 020 3829 6970

 

Shore Capital (Nominated Adviser & Broker)

Stephane Auton

Edward Mansfield

Sarah Mather

 

Tel: 020 7408 4090

 

Liberum (Joint Broker)

Bidhi Bhoma

Euan Brown

 

Alma PR (Financial Public Relations)

Sam Modlin

Justine James

Tel: 020 3100 2222

 

 

 

Tel: 020 3405 0205

 

Notes to editors:  

Judges Scientific plc (AIM: JDG), is a  group focused on acquiring and developing companies  in the scientific instrument sector .  The Group consists of 19 businesses acquired since it was re-admitted to AIM in 2005.

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 companies hold 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 repayment of debt, organic growth and dividends. 

For further information, please visit  www.judges.uk.com

 

 

 

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