Volex has signed a share purchase agreement for the acquisition of Irvine Electronics for $16.4m. The acquisition awaits regulatory approval in the US and is expected to complete in Q3 FY2022E. The business is being acquired for cash for 3.5x adjusted EBITDA for the year ended December 2020. The acquisition, which will be earnings accretive from completion, will add to Volex’s presence in the defence and military aerospace markets, and importantly broaden both geographical coverage and technical ....
