Spectris enhances offering with €134 million Piezocryst acquisition
Spectris PLC on Thursday said it has agreed to acquire an Austrian sensor manufacturer which is expected to deliver synergies and improve the company’s offering to customers.
The London-based company which provides instruments, test equipment, and software for industrial applications has acquired Piezocryst Advanced Sensorics GmbH from AVL List GmbH for €133.5 million.
Based in Graz, Austria, Piezocryst is a provider of piezoelectric sensors and specialises in high precision pressure sensors and accelerometers for demanding applications.
Chief Executive Officer Andrew Heath said: ‘Piezocryst is a proven, high-quality business that we have long-admired and will broaden our customer offering through its unique and cutting-edge technology, enabling us to further penetrate the high-temperature, high-precision sensor markets.’
The company will join the Spectris Dynamics division and be integrated into the HBK business where it is expected to enhance the customer offering across the automotive, aerospace & defence, energy, and industrial markets.
Piezocryst is expected to generate sales of €27.5 million in 2024 and an earnings before interest, tax, depreciation, and amortisation margin of approximately 30%.
By 2027, the combination is expected to deliver an additional €4.8 million of Ebitda from synergies.
‘Together with the recently completed acquisitions of SciAps [Inc] and Micromeritics [Instrument Corp], 2024 has been a strong year for acquisitions and underpins our commitment to generating long-term shareholder value through disciplined use of our capital. We are focused on delivering on the significant potential of these businesses, including the realisation of synergies, aligned to our strategy to compound growth through value enhancing M&A,’ Heath added.
The Piezocryst acquisition is expected to close by year’s end.
Spectris shares were up 0.7% at 2,884.00 pence each in London on Thursday morning.
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