Judges Scientific, a company focused on acquiring and developing businesses in the scientific instrument sector, has announced that its subsidiary Dia-Stron Inc. has acquired 100% of Bossa Nova Vision LLC’s issued share capital.
Bossa Nova Vision LLC is based in Los Angeles, California, and specializes in imaging measurement technology for the cosmetics industry. The acquisition was funded by the group’s cash balances and is expected to be immediately earnings enhancing.
Dia-Stron had previously agreed to a commercial cooperation agreement with Bossa Nova Vision LLC and a call option to acquire its shares on March 24, 2022. Bossa Nova Vision LLC generated $0.4 million in EBIT in calendar 2022, and the consideration for the acquisition is $1.6 million in cash.
This acquisition is strategically complementary to Dia-Stron’s current business, which provides measurement solutions for hair tresses and fibers in the personal care market, as well as natural and synthetic fibers in the composite sector.
Yann Leray, the Managing Director of Dia-Stron, said that the company is pleased to welcome the Bossa Nova Vision LLC team to the Judges family. The management of Dia-Stron and the Judges Board believe that Bossa Nova Vision LLC is a solid, growing, and profitable company that produces quality products, and that their customers will benefit greatly from Bossa Nova Vision LLC’s complementary offering.
Bossa Nova Vision LLC was founded in 2018 by Sebastien Breugnot and his colleagues, and they will continue to work with the company after the acquisition.