SDI Group acquires InspecVision for £6.1m, eyes metrology market

On Wednesday, SDI Group plc announced the acquisition of InspecVision Ltd, a company specializing in computer vision-based measurement systems for industrial applications, for a net consideration of £6.1 million. This strategic move is set to enhance SDI Group's presence in the metrology market and is expected to be immediately earnings enhancing.

InspecVision is recognized for its profitable operations within the metrology sector, boasting an international blue-chip customer base and significant market exposure in the United States. The acquisition aligns with SDI Group's strategy and is anticipated to provide numerous cross-selling opportunities within the Group's Industrial & Scientific Products division.

For the fiscal year ending December 31, 2023, InspecVision reported unaudited financials, including revenue of £3.2 million, adjusted EBIT of £0.84 million to reflect the company's cost base as part of the Group, and a reported EBIT of £0.95 million. These figures underscore the financial viability of the acquisition.

Stephen Brown, CEO of SDI Group, expressed confidence in the acquisition, stating, "InspecVision is a high-quality, profitable business which fulfils our key investment criteria of trading in a growth sector, with international exposure and a strong management team." Brown also highlighted the potential for the acquisition to capitalize on future growth in the metrology market and to enhance the value of other Group portfolio companies, especially through cross-selling synergies and new market routes.

Founded in March 2003, InspecVision has developed a reputation for its advanced precision inspection machines, which are used in quality control and reverse engineering. The company's Planar inspection system, which began sales in 2005, is now sold in over 30 countries. With a team of 14 employees based in Newtonabbey, Northern Ireland, InspecVision will continue to operate with key figures Dr. Jan Antonis and Colette Johnston remaining in full-time roles following the acquisition.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com