Scientific Digital Imaging Makes Purchase
London, UK 2/4/19; Leicester, UK 2/4/19—Scientific Digital Imaging (SDI), which designs and manufactures scientific and technology products, has acquired Thermal Exchange for £847,037 ($1.1 million at £0.76 = $1) and an additional payment at completion. Thermal Exchange provides processing cooling and temperature control systems for industrial, medical and scientific applications and has 15 employees. Annual revenues for the company for the year ending September 30, 2018, totaled £1.4 million ($1.8 million), with a gross profit of £0.95 million ($1.3 million) and profit before tax of £0.21 million ($0.27 million). “Thermal Exchange represents another step in our Group growth strategy and is a complementary fit providing potential areas for growth alongside a talented workforce,” stated SDI Chairman Ken Ford. “The acquisition is in line with our previously announced strategy of organic and acquisitive growth and is expected to be earnings enhancing in its first full year of ownership.” The UK accounts for 86% of Thermal Exchange’s sales.
For the lab, the company provides circulation chillers, as well as cooling systems for lasers and microscopy, supplying customers both directly and as an OEM partner for other companies. SDI expected synergies its Applied Thermal Control business, which supplies recirculating chillers, which SDI acquired in 2017 (see IBO 9/15/17).