Acquisition of NanoSight Limited

RNS Number : 1844P

Spectris PLC

30 September 2013

 



ACQUISITION OF NANOSIGHT LTD

30 September 2013 - Spectris plc ("Spectris" or the "Company") (LSE: SXS), the productivity-enhancing instrumentation and controls company, today announced that it has signed an agreement to acquire NanoSight Limited ("NanoSight"), a leader in the design and development of particle size measurement instrumentation, for a debt and cash-free net consideration of £15 million. The consideration will be met from existing cash and bank facilities and is subject to routine balance sheet adjustments.

The acquisition of NanoSight is in line with Spectris' established strategy of growing and strengthening its businesses via acquisition of complementary businesses. NanoSight will become part of the Materials Analysis segment and will be integrated into Malvern Instruments.   

Jim Webster, Spectris' Business Group Director, commented: "NanoSight's novel Nanoparticle Tracking Analysis technology provides high resolution quantitative analysis of nano-particulate materials which is highly complementary to Malvern's existing measurement capabilities.

"We believe that our Life Science and Industrial customers will benefit greatly from the availability of this additional product range from Malvern. Furthermore, the acquisition of NanoSight will provide new opportunities through the combination of both companies' technologies, customer support capabilities and distribution channels.

"This acquisition, coupled with our additional investment in R&D to stimulate organic growth, positions our Materials Analysis segment very well for future growth."

John Knowles, Chairman of NanoSight and a Founder with Bob Carr, said: "We have long admired both Spectris and Malvern Instruments and we are very pleased that NanoSight has found such a suitable home. The team looks forward to being part of Malvern and to bringing our technology to the wider customer base that working with Malvern will provide."

NanoSight is a private company based in the UK and serves a wide network of customers based across the world within the pharmaceutical, chemical and academic sectors.

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Contacts:
Spectris plc
John O'Higgins, Chief Executive	[phone]
Clive Watson, Group Finance Director	[phone]
Cléa Rosenfeld, Head of Corporate Affairs	[phone]
FTI Consulting
Richard Mountain / Susanne Yule	[phone]

ABOUT SPECTRIS

Spectris plc is a leading supplier of productivity-enhancing instrumentation and controls. The Company's products and technologies help customers to improve product quality and performance, improve core manufacturing processes, reduce downtime and wastage and reduce time to market. Its global customer base spans a diverse range of end user markets. Spectris operates across four business segments which reflect the applications and industries it serves: Materials Analysis, Test and Measurement, In-line Instrumentation and Industrial Controls. Headquartered in Egham, Surrey, England, the Company employs approximately 7,500 people located in more than 30 countries.

For more information, visit www.spectris.com

 

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