Judges buys microscope components firm

21st Mar 2011 14:14

Scientific instruments group Judges Scientific has bought a 51% indirect interest in microscope devices group Deben UK for £3.26m in cash.The deal was done by Bordeaux Acquisition, a 51%-owned subsidiary of Judges, set up specifically to buy Deben."We are delighted to be able to expand our electron microscopy business through the acquisition of Deben. This is a profitable and cash generative business and we expect the transaction, which has not involved the issue of new equity, to be immediately earnings enhancing," said chairman Alex Hambro.Deben reported revenues and pre-tax profits of £2m and £0.86m, respectively, in 2010.Judges, which reports full-year results on 30 March, expects earnings per share to be ahead of market expectations, after the 12 months ended 31 December "concluded with a good performance," it said in a previous statement.