LONDON – Judges Scientific Plc (AIM: JDG), the UK-based acquirer of scientific instrument businesses, said on Wednesday its subsidiary Geotek Limited has acquired the remaining 18% minority interest in Geotek do Brasil Ltda (GdB), which runs the group’s core digitalisation business in Brazil.
The stake was purchased for an initial consideration of 13 million reais ($2.6 million), equivalent to £1.9 million, plus excess cash and a potential earn-out of up to £0.7 million. The initial payment will be made in 60 monthly instalments of 324,000 reais (£45,000), including interest.
Judges said the earn-out will be triggered if GdB’s average adjusted EBIT for 2025 and 2026 exceeds 16.1 million reais (£2.3 million), equal to its adjusted EBIT for the twelve months to Feb. 28, 2025. The earn-out would amount to 18% of 4.5 times the excess, capped at £0.7 million.
The board expects the transaction to be immediately earnings enhancing.
Judges Scientific, which has acquired 25 businesses since 2005, focuses on niche scientific instrument companies with resilient margins and long-term growth prospects. Its portfolio, largely UK-based, sells globally to universities, research facilities, manufacturers and regulators. The group has won five Queen’s Awards for Innovation and Export.