Stadium Group completes Stontronics deal

19th Aug 2015 14:23

(ShareCast News) - Electronic technologies company Stadium Group has completed the acquisition of Stontronics, a manufacturer and distributor of power supply units.The deal, which was originally announced at the end of last month, is worth approximately £6.5m and will be paid in cash, the London-listed company confirmed in a short statement on Wednesday.In July, the group said the deal was in line with its strategy of making targeted, complementary acquisitions in order to strengthen its technology offering."A clear focus for Stadium is to continue to strengthen and build on the success of our technology products division," said group chief executive Charlie Peppiatt upon announcing the deal last month."We have been targeting potential acquisitions that bring a clear value proposition; businesses that complement our existing technologies, increase our exposure to high growth markets, and improve our quality of earnings."Stadium shares were flat at 128.50p at 1524 on Wednesday.