discoverIE has announced it is proposing to raise £29.2m equity to acquire two custom design and manufacturing businesses for £15.9m with the remainder to be used to reduce gearing. The acquisitions offer complementary products that build on the group’s existing magnetics and sensor products, expand the geographic footprint (with 80% of acquired sales in the US), further improve margins and strengthen organic opportunities in target markets. Coupled with confirmation that Q4
16 Apr 2019
discoverIE - Growth prospects enhanced and debt reduced
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discoverIE - Growth prospects enhanced and debt reduced
discoverIE Group PLC (DSCV:LON) | 694 -27.7 (-0.6%) | Mkt Cap: 662.0m
- Published:
16 Apr 2019 -
Author:
Guy Hewett -
Pages:
6
discoverIE has announced it is proposing to raise £29.2m equity to acquire two custom design and manufacturing businesses for £15.9m with the remainder to be used to reduce gearing. The acquisitions offer complementary products that build on the group’s existing magnetics and sensor products, expand the geographic footprint (with 80% of acquired sales in the US), further improve margins and strengthen organic opportunities in target markets. Coupled with confirmation that Q4