LONDON: Oxford Metrics plc (LSE: OMG), the smart sensing and software company announced the acquisition of The Sempre Group Holdings Ltd, a measurement specialist solving manufacturing challenges across multiple industries.
The total consideration for the Sempre business of up to £5.5m is subject to customary adjustments for working capital, cash and debt-like items.
The consideration is to be funded through a cash consideration of £5.0m from existing resources and up to £0.5m through an earnout contingent on Sempre meeting business performance targets.
The acquisition is expected to be immediately earnings enhancing for the Group.
Founded in 2000, Gloucester-based Sempre is a measurement specialist with deep industry knowledge and an established sales and services organisation.
Through Sempre’s expert in-house consultants and partnerships, it provides high precision metrology solutions to improve its clients’ productivity and efficiencies in the area of quality and inspection.
Sempre partners with over 25 well-known manufacturers including Jenoptik, Renishaw and Micro-Vu, to offer an extensive range of products and software to solve manufacturing challenges.
Commenting on the acquisition, Imogen O’Connor, CEO of Oxford Metrics, said, “Oxford Metrics first established a foothold in the smart manufacturing market with our Industrial Vision Systems (IVS) acquisition and we said we would build out our presence via a targeted M&A programme.
Today’s acquisition of Sempre strengthens our smart manufacturing division, it has synergies with IVS and also brings us a deep pool of industry knowledge, an established sales and services organisation plus access to new customers, partners and products, taking us into new markets. To continue growing our smart manufacturing division our investment strategy needs to be in both people and products with clear commercial and technical synergies.
Today highly accurate, error-proof production is mission critical. Sempre helps blue-chip manufacturers to be more efficient and improve quality – ultimately saving time and money. As smart manufacturing increasingly becomes the standard, we welcome our new colleagues and move forward together to capture more of this important market.”
Oxford Metrics to acquire Industrial Vision Systems (IVS) for £8.1 million