SYDNEY, AUSTRALIA: Inventis Limited (ASX: IVT) confirmed that its wholly owned subsidiary Inventis Technology Pty Limited has completed all aspects of the purchase of all shares in Electronic Circuit Designs Pty Ltd (ECD). The 100% ownership is effective from 30/03/22.
In conjunction with the share purchase of ECD, Inventis has also received written confirmation of fund availability and extensions of its existing term facility to 1 July 2025 from its funder THN Capital Solutions Pty Limited.
The integration of this business and long-standing brand is the 5th in succession from the team at Inventis since the management change occurred in late 2019. The Group continues to explore value accretive acquisition opportunities that are aligned with our core business.
The acquisition of Electronic Circuit Designs Pty Ltd (ECD), a circuit board manufacturer and supplier, will help secure benefits of supply integration within the Inventis Technology division.
The share purchase of ECD brings with it ownership of a commercial property at Matraville. This provides a bricks and mortar asset for the Group which is located near Port Botany and approximately 15 min from the Sydney CBD. It has potential for strong capital growth and will remain as the principal place of business for ECD including all manufacturing and distribution.
The Board welcomes the ECD team to the Inventis family and looks forward to great synergies to be achieved from an integrated supply chain for the Group.