SDI Group Acquires InspecVision for £6.1 Million, Targets Metrology Market
On Wednesday, SDI Group plc announced that it has acquired InspecVision Ltd, a company specializing in computer vision-based measurement systems for industrial applications, for a net consideration of £6.1 million. This strategic move aims to strengthen SDI Group's presence in the metrology market and is expected to immediately enhance the company's earnings.
InspecVision is recognized for its profitable operations in the metrology sector, an international high-profile customer base, and significant market presence in the United States. This acquisition aligns with SDI Group's strategy and is anticipated to provide numerous cross-selling opportunities within the Group’s Industrial and Scientific Products division.
For the financial year ending December 31, 2023, InspecVision reported its unaudited financial data, indicating that the company achieved £3.2 million in revenue, a revised £0.84 million EBITDA reflecting the company's cost base as part of the Group, and £0.95 million in reported EBITDA. These figures underscore the financial viability of the acquisition.
SDI Group's CEO, Stephen Brown, expressed his confidence in the acquisition by stating: "InspecVision is a high-quality, profitable business that meets our core investment criteria, operating in a growing sector with an international presence and a strong management team." Brown also emphasized that this acquisition has the potential to capitalize on future growth in the metrology market and to enhance the value of other Group portfolio companies, particularly through cross-selling synergies and new market avenues.
Founded in March 2003, InspecVision is known for its advanced precision inspection machines used in quality control and reverse engineering. The company's Planar inspection system, launched in 2005, is currently sold in more than 30 countries. InspecVision, which has 14 employees in Newtonabbey, Ireland, will continue its operations post-acquisition, with key figures such as Dr. Jan Antonis and Colette Johnston remaining in their full-time roles.