Thu, 03 Dec 2020 | BUSINESS SALE
Acquisitive science and technology firm SDI Group has bought Monmouth Scientific, a manufacturer of fume cupboards, biological safety cabinets, laminar flow cabinets and cleanrooms, in a deal worth around £5.8 million.
The acquisition, which is expected to be immediately earnings enhancing, has been partly funded by SDI through the issue of 230,680 new ordinary shares. A cash consideration will be funded via existing resources, as well as SDI’s revolving credit facility with HSBC.
Monmouth Scientific was founded by David and Lisa Pomeroy in 2003. It currently employs 65 staff and is based in Bridgwater, Somerset. The company provides controlled clean air environments for settings across numerous industries, including scientific and medical.
Its biological safety cabinets have been in high demand for COVID-19 testing infrastructure and this uptick in sales is expected to continue for the remainder of the company’s financial year.
Away from COVID-19, SDI considers there to be significant drivers of long-term growth in Monmouth’s products and services. Monmouth Scientific is set to move into a new, larger, purpose-built HQ from 2022. Following the acquisition, David Pomeroy will continue to lead the firm within the SDI Group.
In the year ending March 31 2020, Monmouth Scientific reported £6.2 million in revenue and around £400,000 in EBITDA. At the time, its fixed assets were valued at just over £381,000, with £1.8 million in current assets and net assets of £881,739.
SDI Chairman Ken Ford commented: “Monmouth Scientific is a further step in our group growth strategy. It is a complementary fit with our stable of businesses providing laboratory equipment and generates areas for potential growth.”
Find businesses for sale here.
If you are looking for an exit, we can help!
This well-established ERP software company offers a unique opportunity with its extensive suite of over 50 fully integrated modules, providing customisable solutions across diverse industries through a robust global partner network. With exclusive ri...
This is a rare opportunity to acquire a not-for-profit Rail Development Research and Technology Organisation, complete with a purpose-built R&D facility and generating additional income from sub-tenants.
This well-established software development business, operating since 1999, is renowned for delivering custom solutions, including bespoke CRM systems and mobile apps, to a diverse clientele across sectors such as healthcare, retail, and public servic...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.