Judges Scientific acquires Scientifica

27th Jun 2013 12:30

Judges Scientific has acquired Scientifica, a manufacturer of electrophysiology equipment, for 12m pounds in cash and an earn-out capped at 1.0m pounds.Judges, which manufactures scientific instruments, said the acquisition is being financed from existing cash resources and an additional £9.0m term loan provided by Lloyds Bank Corporate Markets.Scientifica designs, manufactures and sells complete instrument rigs used in electrophysiology, comprised of micromanipulators, optical microscopes and associated mounting solutions. The company's unaudited accounts for the financial year to end of March show revenues of £9.2m and pre-tax profits of £2.2m.Alex Hambro, Chairman of Judges, said: "The purchase of Scientifica represents the largest acquisition made by Judges Scientific and its impact on the group's financial performance should be significant."RD