Judges Scientific's Geotek completes Brazil subsidiary takeover
Judges Scientific PLC on Wednesday announced that its subsidiary Geotek Ltd has bought the remaining minority stake in its majority-owned subsidiary Geotek do Brasil ltda.
Shares in Judges Scientific were 1.1% higher at 5,658.90 pence each in London on Wednesday afternoon.
Judges, which buys and develops companies in the scientific instrument sector, said that Geotek acquired the 18% minority share in GdB for an initial consideration of R$13 million, or £1.9 million, payable in 60 monthly instalments of R$324,000 including interest. The total consideration includes excess cash and earnout of up to £700,000.
Judges Scientific said that if, and to the extent that GdB’s average adjusted earnings before interest and tax for 2025 and 2026 exceeds R$16.1 million or £2.3 million, an earn-out equal to 18% of 4.5 times the excess will be payable subject to the £700,000 cap. The R$16.1 million amount is equivalent to GdB’s adjusted Ebit for the twelve months ended February 28.
Judges Scientific added that it expects the transaction to be immediately earnings-enhancing.
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