The acquisition of FBM gives the group a significant presence in the ‘hard to find’ or obsolete electronic component sector. FBM is expected to report revenue and profit growth in the current year. Furthermore, the existing APC business hasstarted FY2018E well and the group continues to trade in line with expectations. The net consideration of £0.5m, excluding £0.7m of cash which goes on completion, represents a multiple of 2.6x FY2016 PBT. We have upgraded our FY2018E
15 Jan 2018
FBM brings additional scale and profit
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FBM brings additional scale and profit
The acquisition of FBM gives the group a significant presence in the ‘hard to find’ or obsolete electronic component sector. FBM is expected to report revenue and profit growth in the current year. Furthermore, the existing APC business hasstarted FY2018E well and the group continues to trade in line with expectations. The net consideration of £0.5m, excluding £0.7m of cash which goes on completion, represents a multiple of 2.6x FY2016 PBT. We have upgraded our FY2018E