Sensor Firm Acquired
Publicly held SDI specializes in imaging equipment for the life sciences, such as gel imaging systems and colony counters. This purchase takes it into an entirely different market, but one in which the company plans to grow. For the fiscal year ending April 30, SDI revenues were flat at £7.0 million ($11.3 million = £0.62 = $1).
London, UK 10/28/15—Digital imaging instrument firm Scientific Digital Imaging (SDI) has acquired Sentek for £2 million ($3 billion = £0.65 = $1), financed by cash and loans. Sentek manufactures and produces electrochemical sensors, including pH and conductivity sensors, for water-based applications. For the year ending October 31, 2015, Sentek recorded revenues of £2.6 million ($3.0 billion = £0.88 = $1) and a profit before tax of £0.5 million ($0.6 million). “The acquisition of Sentek marks a significant milestone in SDI’s growth strategy, diversifying the existing product range and widening our addressable market,” stated SDI Chairman Ken Form. SDI announced it will automate certain parts of Sentek’s glass blowing process and that cross selling opportunities exist. In the first full year of ownership, the acquisition is expected to be earnings enhancing.
