SDI Group announces acquisition of Peak Sensors for £2.4m

SDI Group plc, a company listed on AIM and specializing in the design and manufacture of scientific and technology products, has announced its acquisition of Peak Sensors Holdings Limited on 3 November 2023. The acquisition, valued at approximately £2.4 million, represents a significant step in SDI Group’s growth strategy.

Key Highlights of the Acquisition

• Peak Sensors is a prominent UK manufacturer of temperature sensors, known for its standard and bespoke thermocouples and resistance thermometers. The products are utilized across various industries, including glass, ceramic, incinerators, cement, and ovens.
• Based in Chesterfield, Peak operates from a 5,300 sq ft leasehold facility and employs around 14 staff members.
• The company reported revenues of £2.1 million for the year ended 31 March 2023, with an EBIT of approximately £330,000.
• The acquisition sees Peak Sensors joining SDI Group’s Sensors and Controls division, expected to enhance earnings in the first full year of ownership.

Chairman’s Statement on the Acquisition

Ken Ford, Chairman of SDI, expressed enthusiasm about the acquisition, noting it as a continuation of the Group’s growth strategy. He highlighted the potential for high-quality products with export growth that Peak Sensors brings to SDI Group. Ford welcomed Roshan Aucklah, Peter Smith, and the Peak staff to the SDI Group, anticipating the acquisition to be earnings-enhancing from the outset.

Conclusion

SDI Group’s strategic acquisition of Peak Sensors underscores its commitment to expanding its product portfolio and strengthening its position in the scientific and technology products market. This move is anticipated to bolster SDI Group’s presence in various industrial sectors and contribute positively to its financial growth.