SDI Group acquires Fraser Anti-Static Techniques

Scientific products group SDI Group has acquired British anti-static equipment manufacturer Fraser Anti-Static Techniques in a deal valued at approximately £13.0m.

SDI Group said on Monday that Fraser operates across three freehold sites in Bampton and one leasehold site in Bristol, and also has sales offices in China and Germany, with a "large proportion" of revenues coming from overseas customers.

The AIM-listed group added that the acquisition price for Fraser, which will reside in its sensors and controls division, includes approximately £1.76m of freehold property.

Chairman Ken Ford said: "The acquisition of Fraser is a further step in our group growth strategy, demonstrating again the opportunities to acquire businesses with high-quality products with export growth potential. The acquisition is expected to be earnings enhancing in current year FY2023."

As of 0850 BST, SDI shares were up 0.68% at 172.66p.

Reporting by Iain Gilbert at Sharecast.com