REG - Amcomri Group PLC - Acquisition of Randor Technologies Limited

AmcomriAnnouncement

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RNS Number : 5047T  Amcomri Group PLC  01 August 2025

1 August 2025

 

Amcomri Group plc

 

("Amcomri", the "Company" or the "Group")

 

Acquisition of Randor Technologies Limited (trading as Electronix Services)

 

Amcomri Group plc (AIM: AMCO), the UK focused specialist engineering services
and industrial manufacturing group, announces completion of the acquisition of
Randor Technologies Limited (t/a Electronix Services - "Electronix").

 

Electronix is based in Ireland and provides a specialist industrial electronic
repair and reverse engineering service for high value electronic units and
systems used in many industrial environments, many of which can be
operationally critical for their customers. Following the Acquisition,
Electronix will become part of Amcomri's fast growing Embedded Engineering
Division.

 

The initial cash consideration of €2.0m was paid from existing cash
resources on completion of the Acquisition, with the remaining balance of up
to €1.5m being paid on a deferred basis based on an earn-out agreement, in
line with previous acquisition structures.

 

Highlights

·     Electronix has built a strong reputation and established
long-standing customer relationships with recurring business across the rail,
pharmaceutical, medical devices, computing and power electronics sectors.

·     Extensive technical expertise and capability to modernise and
upgrade potentially obsolete units, providing customers with significant
opportunity to safely and reliably extend life of complex electronic assets.

·     Highly skilled workforce and management team with in-depth
technical knowledge and expertise within their chosen customer industrial and
technology segments.

·     Significant progressive synergy potential with existing Amcomri
'Embedded Engineering' electronic repair sector businesses, TP Matrix and
Etrac.

·     Potential to progressively expand Electronix's proven expertise in
life extension of critical electronic units into other industrial and
geographic areas not currently serviced by Electronix, via existing Amcomri
customers.

·     Consistently generating strong financial results and positive cash
flow, with significant repeat revenue characteristics across a quality
customer base.

 

Acquisition Rationale

Amcomri has a proven track record of acquiring and enhancing specialist
electronics businesses, following its previous acquisitions of TP Matrix and
Etrac. The acquisition of Electronix provides a retirement exit for the
shareholders Maurice and Rena Regan, and Maurice will remain in the Company as
General Manager.

 

The acquisition of Electronix enables the Group to expand its portfolio within
the specialist electronics repair sector, and to broaden the range of specific
technical services provided by the Embedded Engineering division.

 

Electronix's expertise in electronic repairs across the rail, pharmaceutical,
and medical industries in Ireland complements Amcomri's strengths in these
same markets operating in the UK, whilst also providing the potential for
Amcomri's Embedded Engineering division to broaden its reach within the EU
market.

 

For the year ended 28 February 2025, Electronix generated a normalised profit
before tax of €0.73m.

 

Mark O'Neill, Investment Director of Amcomri, commented:

 

"We are very pleased to confirm our first acquisition in Ireland and our
second acquisition this year since our admission to AIM in December 2024. The
acquisition of Electronix not only strengthens our ambitious organic and
acquisitive growth strategy, but also marks Amcomri's first acquisition
outside of the UK, as we continue to roll out our proven 'Buy, Improve, Build'
model.

 

"Following the previous acquisitions of TP Matrix and Etrac, Electronix
provides an exciting and logical extension to our growing group of specialist
electronics repair and overhaul businesses, and we look forward to working
with Maurice, Rena and the team at Electronix to deliver further success to
the business."

 

Certain of the information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under the UK version of
the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018, as amended and supplemented from
time to time.

 

Enquiries:

 

 Amcomri Group plc                                           Via Walbrook
 Hugh Whitcomb, Chief Executive Officer                      Tel: +44 (0)20 7933 8780

 Mark O'Neill, Investment Director
 Siobhán Tyrrell, Chief Financial Officer

 Cavendish Capital Markets Limited                           Tel: +44 (0)20 7220 0500
 Adrian Hadden/Katy Birkin- Corporate Finance
 Michael Johnson/Jasper Berry/Andrew Burdis - Sales/Broking

 Walbrook PR Ltd                                             Tel: +44 (0)20 7933 8780
 Tom Cooper / Nick Rome                                      amcomri@walbrookpr.com

To find out more, please visit: www.amcomrigroup.com
(http://www.amcomrigroup.com)

 

Notes to Editors:

 

Amcomri is a "Buy, Improve, Build" group focusing on acquiring, integrating
and enhancing specialist engineering services and industrial manufacturing
businesses that provide technical services to major UK infrastructure,
transportation and energy companies and bespoke mission-critical services to a
diverse range of sectors and markets.

 

The Group currently operates through the following two divisions:

 

(i)  Embedded Engineering Division: provides specialist technical and
engineering services for major industrial, infrastructure and transportation
clients, typically with complex technical needs and undertaken in operating
environments where safety and compliance performance are critical
requirements. The division predominantly provides engineering services and
support for their clients' capital intensive, mission-critical assets such as
high voltage electrical transmission systems, petrochemical and continuous
process operations, and large power generation plants.

 

(ii)  B2B Manufacturing Division: focuses on selective niche B2B markets or
businesses, where the Group has identified an opportunity to achieve enhanced
financial performance by leveraging an initially strong competitive market
position combined with the Group's business improvement capabilities.

 

The Group operates across a diverse range of sectors and markets, including
industrial, infrastructure and mass transportation. The Group deploys a
structured "Buy, Improve, Build" strategy with a track record of value
enhancing acquisitions in the industrial environment. It has a particular
focus on leveraging the Group's experience and track record in relation to
acquisitions arising from owner manager 'retirement' situations, where there
are no, or limited, alternative plans for succession to sustain the enterprise
value present within the target business.

 

The Group has been created through a series of 17 successful acquisitions,
comprising the acquisition of 13 operating companies and 4 bolt-on
asset/business purchases, each of which has been integrated into the Group.
Post acquisition, the Group has a strong focus on facilitating and supporting
its operating companies with organic growth initiatives, and the Group's
businesses are well placed to take advantage of generally positive conditions
in their respective niche end markets.

 

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