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discoverIE Group Acquires Hobart Electronics in the US
Tuesday 23 April 2019

23 April 2019 - UK-based electronics manufacturer discoverIE Group plc (LSE: DSCV) has acquired Coil-Tran Corp. which trades as Hobart Electronics, the group said.
 
Hobart is a US-based designer and manufacturer of custom transformers, inductors and magnetic components, which reported revenues of USD 13m (GBP 10.0m) for its year ended 31 December 2018, generating reported EBITDA of USD 2.1m (GBP 1.6m).
 
The consideration for Hobart comprises an initial cash consideration of USD 15.2m (GBP 11.7m) and a further contingent cash consideration of up to USD 4m (GBP 3.1m) which is subject to customary adjustments, payable subject to the achievement of certain growth targets over the next three years.
 
discoverIE Group is an international group of businesses that designs, manufactures and supplies components for electronic applications.
Details
Date Published: 23/04/2019
Target: Coil-Tran Corp
Country: UK
Deal Size: 19.2m (USD)
Sector: Electronics
Type: Corporate acquisition
Financing: Cash and Stock
Status: Closed
Vendor:
Buyer: discoverIE Group
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