Spectris said on Tuesday that it signed a purchase agreement for the acquisition of Dytran Instruments for £66m, subject to regulatory approval, and expected to complete the deal by Q4 2022.
Spectris, a maker of precise instruments, announced that it has agreed to buy Dytran Instruments for £66 million, valuing the company at 15.8 times EBITDA for the year ending March 2022, which sent shares to gain 3% to 2,928p.
The transaction is expected to be finalised in the fourth quarter, pending regulatory approval.
Dytran, situated in California, is a major inventor and manufacturer of piezoelectric and MEMS-based accelerometers and sensors for detecting dynamic force, pressure, and vibration, with the majority of its business in North America.
Product development evaluation and integrated surveillance systems are used in a broad array of applications in the space, aerospace, industrial, and automotive industries.
Dytran will be merged into HBK, a well-known brand in the accelerometer market, and will benefit from HBK’s global sales and service network.
The deal boosts HBK’s piezoelectric offering, adds additional MEMS capabilities, and expands sales into North America.
Both companies will be able to use their complementary strengths to give increased client products and solutions, allowing for faster product development.
“Dytran is an excellent addition to HBK, bringing complementary technology and strengthening our sensor offering to customers in the fast-growing accelerometer market,” said Andrew Heath, Chief Executive Officer, Spectris.
“The combination will strengthen HBK’s position in the US aerospace, space and defence industries, as well as accelerate Dytran’s revenue by leveraging HBK’s existing global sales channels.”
“We look forward to welcoming the Dytran team to HBK and providing our customers with a wider portfolio of accelerometers and solutions, helping to enhance their products and development programmes.”
