REG - discoverIE Group plc - Acquisition of Trival

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RNS Number : 1524K  discoverIE Group plc  04 December 2025

7.00am, 4 December 2025

 

discoverIE Group plc

 

Acquisition of Trival -  focused on security market

 

discoverIE Group plc (LSE: DSCV, "discoverIE" or the "Group"), a leading
international designer and manufacturer of customised electronics to industry,
today announces the acquisition, subject to certain regulatory approvals, of
Trival Antene d,o,o ("Trival"), a Slovenian-based designer and manufacturer of
communication antennae and masts for defence and professional applications.

 

Trival is being acquired for an initial cash consideration of €45.5m
(£39.9m) on a debt free, cash free basis, before expenses, and will be funded
from the Group's existing debt facilities. In addition, deferred consideration
of up to €1.65m (£1.45m) will be payable subject to certain conditions
twelve months from completion and an earn-out of up to €5.5m (£4.8m) will
be payable subject to Trival achieving certain growth and performance
conditions in the period up to 31 March 2028.

 

Founded in 1965, Trival produces antennae used principally in land-based
defence applications including handheld, manpack, mobile and fixed radio
communications systems and sells internationally into c.70 countries. The
acquisition is consistent with discoverIE's strategy of targeting long-term
growth markets, in this case the security market, where other businesses in
the Group will benefit from access to its extensive customer base and proven
sales channels.

 

Trival, under its existing ongoing management, will join the Group's
Connectivity operating unit within the Sensing & Connectivity division,
retaining its distinct brand identity. It has a strong financial track record,
with unaudited revenues for the 12 months ended 31 December 2024 of €12.7m
(£11.1m) and an adjusted operating profit margin that is well above
discoverIE's medium-term target of 17%.

 

This acquisition is subject to receipt of regulatory approvals with completion
expected by the end of this financial year. From completion, the acquisition
will be accretive to both the Group's adjusted earnings and operating margin.
Including the acquisition of Keymat Technology Ltd which was recently signed,
the Group's proforma gearing(1) at 30 September 2025 will increase from 1.3x
to 1.8x, comfortably within our target range. The Group retains significant
headroom against its recently extended facilities and the pipeline of
acquisition opportunities in development remains strong.

 

Nick Jefferies, Group Chief Executive of discoverIE, said:

 

"The acquisition of Trival continues our strategy of building a
differentiated, international, growth-focused electronics group with strong
operating margins and will be accretive to both the Group's adjusted earnings
and operating margin on completion. This transaction brings another
high-quality business into discoverIE and is our first which is focused mainly
on our security target market. We welcome the team and very much look forward
to working with them."

 

For further information please contact:

discoverIE Group
plc
            IR@discoverIEplc.com

 

Nick Jefferies                Group Chief Executive

Simon Gibbins              Group Finance Director

Lili Huang                      Head of Investor Relations

 

Burson
Buchanan
020 7466 5000

Chris Lane, Toto Berger

discoverIE@buchanan.uk.com

 

 

Notes

 

1.     Gearing ratio is defined as net debt (excluding IFRS16) divided by
adjusted EBITDA (annualised for acquisitions). Proforma gearing includes the
acquisitions of Trival and Keymat as if they had been acquired at 30 September
2025.

 

2.     The information contained within this announcement is deemed by the
Group to constitute inside information as stipulated under the Market Abuse
Regulation, Article 7 of EU Regulation 596/2014. Upon the publication of this
announcement via Regulatory Information Service, this inside information is
now considered to be in the public domain.

 

 

Notes to Editors:

 

About discoverIE Group plc

 

discoverIE Group plc is an international group of businesses that design and
manufacture innovative electronic components for industrial applications.

 

The Group provides application-specific components to original equipment
manufacturers ("OEMs") internationally through its two divisions, Magnetics
& Controls, and Sensing & Connectivity. By designing components that
meet customers' unique requirements, which are then manufactured and supplied
throughout the life of their production, a high level of repeating revenue is
generated with long-term, high quality customer relationships.

 

With a focus on key markets driven by structural growth, increasing electronic
content and sustainability, namely medical, electrification of transportation,
renewable energy, security and industrial automation & connectivity, the
Group aims to achieve organic growth that is well ahead of GDP and to
supplement that with complementary acquisitions. The Group is committed to
reducing the impact of its operations on the environment in order to reach net
zero. With its key markets aligned with a sustainable future, the Group has
been awarded an ESG "A" rating by MSCI and is Regional (Europe) Top Rated and
Industry (Technology Hardware) Top Rated by Sustainalytics.

 

The Group employs c.4,500 people across 20 countries with its principal
operating units located in Mainland Europe, the UK, China, Sri Lanka, India
and North America.

 

discoverIE is listed on the Main Market of the London Stock Exchange and is a
member of the FTSE 250, classified within the Electrical Components and
Equipment subsector.

 

 

 

 

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