Judges Scientific Expands
Armfield Managing Director Chris Addis, one of the company’s former owners, will remain with the firm. In 2013, Judges revenues grew 26.6% to £36.0 million ($56 million), divided 59% and 41% between its Vacuum and Materials Sciences groups, respectively. Organically, sales grew 4.3%. As a holding company, Judges is focused on acquisitions.
London, UK 1/22/15—Publicly held Judges Scientific has acquired Armfield, a supplier of engineering equipment and research instruments for educational applications, and R&D systems for the food, beverage, diary, vegetable oil and pharmaceutical industry. The purchase price was £8.3 million ($12.6 million = £0.66 = $1) and up to a £1.5 million ($2.3 million) earn out. Armfield generated £12.2 million ($19.1 million = £0.64 = $1) in revenues in 2013 and pre-tax profits of £1.3 million ($2.0 million). “Armfield is a world-class company, with an acknowledged reputation for excellence in the educational sector, and its impact on the Group’s financial performance should be significant,” stated Judges Chairman Alex Hambro.
