Leicestershire manufacturer sold in £1.2m deal
Leicestershire-based Applied Thermal Control (ATC), which manufactures chillers, coolers and heaters and heat exchangers, has been sold to AIM-listed Scientific Digital Imaging of Cambridge.
The deal could be worth up to £1.2m, with £686,000 paid up front.
For the year ended 31 December 2016, ATC achieved revenue of £1.2m, gross profit of £755,000 and profit before tax of £129,000. ATC was founded in 1995 and has close ties with Loughborough University and is based in Whitwick, Leicestershire and employs 13 staff.
Ken Ford, chairman of SDI, said: “ATC represents another exciting step in our Group growth strategy. ATC is a complementary fit to the Group and provides potential areas for growth alongside a talented workforce. The acquisition is in line with our previously announced acquisition strategy and is expected to be earnings enhancing in its first full year of ownership.”
