LONDON, UK: Spectris plc (LSE: SXS), the expert in providing insight through precision measurement, has signed a purchase agreement to acquire Dytran Instruments Inc. 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.”
Based in Los Angeles, California, Dytran Instruments Inc 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.
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. www.spectris.com