DiscoverIE buys CDT Group for £5m

Electronics maker discoverIE Group on Wednesday said it had bought CDT group for £5m.

CDT, designs and makes customised plastic enclosures for circuit boards, membrane keypads and associated electronics components. The deal is on a debt-free, cash-free basis, before expenses, funded from existing debt facilities.

The acquisition will be immediately enhancing to Group underlying earnings, discoverIE said.

CDT reported revenues for the year to December 31 of £2.9m, generating an underlying operating profit of £0.8m and an underlying operating margin of 28%.