REG - Spectris PLC - Acquisition of Dytran Instruments

SpectrisAnnouncement

10/05/2022 07:00

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RNS Number : 8562K  Spectris PLC  10 May 2022

Acquisition of Dytran Instruments

10 May 2022 - Spectris plc (SXS: LSE), the expert in providing insight through
precision measurement, today announces that it has signed a purchase agreement
to acquire Dytran Instruments, Inc. ('Dytran') for $82 million (£66 million),
valuing the business at 15.8x EBITDA for the 12 months ending March 2022. The
transaction is subject to regulatory approval and is anticipated to close in
the fourth quarter.

Based in California, Dytran is a leading designer and manufacturer of
piezo-electric and MEMS-based accelerometers and sensors for measuring dynamic
force, pressure, and vibration, with its largest market in North America. Its
products are used in a broad range of applications in the space, aerospace,
industrial and automotive industries in both product development testing and
embedded monitoring solutions.

Dytran will be integrated into HBK, which has a long-established brand in
accelerometers and where it will benefit from leveraging HBK's global sales
and service network. The acquisition strengthens HBK's piezo-electric
offering, adds new MEMS capability and expands sales into North America. The
acquisition also allows both companies to leverage complementary capabilities
and provide enhanced customer offerings and solutions to enable accelerated
product development.

Andrew Heath, Chief Executive, said:

"Dytran is an excellent addition to HBK, bringing complementary technology and
strengthening our sensor offering to customers in the fast-growing
accelerometer market. The combination will strengthen HBK's position in the US
aerospace, space and defence industries, as well as accelerate Dytran's
revenue by leveraging HBK's existing global sales channels. We look forward to
welcoming the Dytran team to HBK and providing our customers with a wider
portfolio of accelerometers and solutions, helping to enhance their products
and development programmes."

 

For and on behalf of Spectris plc

LEI Number: 213800Z4CO2CZO3M3T10

Contacts:
Spectris plc

Siobhán Andrews

Head of Corporate Affairs

+44 20 4551 4549/+44 7920 230093

Tulchan Communications

Martin Robinson/Giles Kernick

+44 20 7353 4200

 

About Spectris

Spectris' global group of businesses are focused on delivering value beyond
measure for all our stakeholders. We target global, attractive and sustainable
markets, where growth and high returns are supported by long-term drivers.
Precision is at the heart of what we do. We provide customers with expert
insight through our advanced instruments and test equipment, augmented by the
power of our software and services. This equips customers with the ability to
reduce time to market, improve processes, quality and yield. In this way,
Spectris know-how creates value for our wider society, as our customers
design, develop, test and manufacture their products to make the world a
cleaner, healthier and more productive place. Headquartered in London, United
Kingdom, the Company employs approximately 7,600 people located in more than
30 countries. For more information, visit www.spectris.com
(http://www.spectris.com) .

About Dytran

Based in Los Angeles, California, Dytran is a leading designer and
manufacturer of piezoelectric, MEMS-based, and digital accelerometers.  The
company also manufactures piezoelectric force and pressure sensors for
measuring dynamic physical properties associated with force and pressure
events. Its innovative products are used for space, aerospace, industrial, and
automotive applications in both product development testing and embedded
monitoring solutions. Dytran sensors enable technology pioneers to invent the
platforms of the future.

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