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DiscoverIE Acquires UK Sensor Manufacturer
Tuesday 23 April 2019

23 April 2019 - UK-based customised electronics maker discoverIE has acquired UK-based Positek Ltd, the group said.

Positek is a UK-based designer and manufacturer of rugged, high accuracy linear, rotary, tilt and submersible sensors, supplying international markets, which reported revenues of GBP 1.5m for its year ended 31 August 2018, generating underlying EBITDA of GBP 0.6m.
The consideration for Positek comprises an initial cash consideration of GBP 4.2m with further contingent cash consideration of up to GBP 0.4m, payable subject to the achievement of certain integration and profit targets in the next 18 months.
discoverIE Group is an international group of businesses that designs, manufactures and supplies components for electronic applications.
Date Published: 23/04/2019
Target: Positek Ltd
Country: UK
Deal Size: 5.46m (USD)
Sector: Machinery/Engineering
Type: Corporate acquisition
Financing: Cash
Status: Closed
Buyer: discoverIE