On 16 April, discoverIE raised £29m equity to acquire two custom design and manufacturing businesses for an initial £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 trading
03 May 2019
discoverIE - Prospects enhanced, debt reduced, target raised
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discoverIE - Prospects enhanced, debt reduced, target raised
discoverIE Group PLC (DSCV:LON) | 734 124.9 2.4% | Mkt Cap: 701.1m
- Published:
03 May 2019 -
Author:
Guy Hewett -
Pages:
7
On 16 April, discoverIE raised £29m equity to acquire two custom design and manufacturing businesses for an initial £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 trading