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Lab Impex Systems Ltd acquired by Ultra Electronics plc for £3.2m in cash.

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  • Poole-based technology manufacturer acquired by leading British plc.
  • Acquisition extends Ultra Electronics’ capabilities in the nuclear sector worldwide.
  • Strong interest in specialist suppliers serving the science and innovation space, says BCMS
  • Lab Impex Systems Ltd, a specialist manufacturer has been acquired by Ultra Electronics plc for £3.2m in cash, in a transaction managed by international M&A advisor BCMS.

Lab Impex Systems Ltd is a leading designer, manufacturer and supplier of specialist radiation measuring instrumentation, systems and services to the nuclear, medical and defence sectors. Poole-based, the company’s instruments and systems are primarily used in the field of health physics for the monitoring of ionising radiation in the environment, the workplace, or in process control.

BCMS worked with the shareholders to prepare the company for acquisition, research the market and negotiate the best deal possible. This included managing discreet discussions with 23 interested organisations and hosting intensive dialogues on the acquisition with five potential acquirers. Ultimately Ultra Electronics plc tabled the most compelling proposal for the business, with a cash consideration of £3.2m, secured from private investors including the original founder.

The successful acquirer, Ultra Electronics plc, is a group of businesses which manage a portfolio of specialist capabilities. This includes generating highly differentiated solutions and products in the defence and aerospace; security and cyber; and transport and energy markets by applying electronic and software technologies in demanding and critical environments to meet customer needs.

BCMS deal leader Mike O’Connor who managed the transaction, commented: “Large acquisitive organisations are pursuing strategic growth through acquisitions, and as a result innovative British SMEs are enjoying increased levels of acquisition interest.

“As a specialist supplier of cutting-edge technology to companies active in science and innovation, the shareholders of Lab Impex Systems Ltd have capitalised on the upswing in acquisition activity. I am confident that with the leadership provided by Ultra Electronics plc the business will continue its strong run of success.”

Rakesh Sharma, Chief Executive of Ultra Electronics plc, comments: "I am pleased that we have been able to bring Lab Impex Systems Ltd into the Group as a part of our Nuclear Control Systems business. This acquisition extends Ultra's capabilities in the nuclear sector and provides further momentum for our international growth."

BCMS has a strong track record of completions in these markets, having completed eight deals in the commercial sciences space since 2011 and an additional 17 deals in the Manufacturing sector, since 2010.

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Posted jul 2014
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