Versarien completes Total Carbide deal

VERSARIEN, the materials manufacturing business which has a base in Liverpool, has completed its £2.3m acquisition of Total Carbide.

Total Carbide, which specialises in producing sintered tungsten carbide products, has been sold by Cambridge-based Elektron Technology in a cash and shares deal.

Versarien, which raised £3m by floating on the Alternative Investment Market today, develops advanced porous metals for thermal management – which includes heat exchange and energy storage.

The company’s head office is in Cinderford, Gloucestershire, but it has a research facility at the Liverpool Science Park Innovation Centre.

It is paying £1.23m in cash for Buckinghamshire-based Total Carbide and handing shares worth £1m to Elektron which now has 10% of the business.