SDI Group Acquires PRP Optoelectronics for £9.3 Million
SDI Group plc has acquired PRP Optoelectronics Ltd for £9.3 million, excluding £2.8 million of net cash. The total consideration includes £11.3 million in cash at completion and £0.8-0.9 million deferred cash. The acquisition expands SDI's presence in the aerospace and defense sector and strengthens its portfolio with PRP's LED micro-displays and UV purification products. PRP's managing director and technical director will remain with the company post-acquisition.
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SDI Group plc acquired PRP Optoelectronics Ltd of Swindon, UK for £9.3 million, excluding £2.8 million of acquired net cash. The deal includes £11.3 million in cash upon completion and £0.8-0.9 million in deferred cash, subject to completion accounts.
Funding will come from SDI's HSBC UK Bank credit facility. As of January, SDI had £1.1 million in cash and £19.4 million in bank debt. PRP will join SDI's Industrial & Scientific Sensors division, enhancing its offerings in the aerospace and defense sectors. PRP's management will continue in their roles post-acquisition.
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