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Judges Scientific Acquires Moorfield Nanotechnology for GBP 2.3m
Friday 06 December 2019

6 December 2019 - UK-based scientific instrument business Judges Scientific's Quorum Technologies Ltd subsidiary has acquired 100% of the issued share capital of UK-based coating instruments provider Moorfield Nanotechnology Ltd. for GBP 2.3m (USD 3.02m), the company said.

The purchase price, paid in cash at completion, includes an earn-out based on Moorfield's adjusted EBIT in the year to 30 June 2019, capped at GBP 0.7m (USD 0.9m).

The consideration for the acquisition has been financed from the Group's GBP 35m (USD 46m) acquisition facility from Lloyds Bank Corporate Markets.

Moorfield specialises in the design and manufacture of physical and chemical vapour deposition instruments used to cover materials with thin films. Moorfield's systems are used for academic and industrial research, including semiconductors, photovoltaics, graphene and 2D materials.

Quorum is a manufacturer of instruments used to coat samples for electron microscopy.

Judges Scientific plc (AIM: JDG), is involved in the buy and build of scientific instrument businesses. The Group currently consists of 17 businesses acquired since it was re-admitted to AIM in 2005.
Details
Date Published: 06/12/2019
Target: Moorfield Nanotechnology Ltd
Country: UK
Deal Size: 3.02m (USD)
Sector: Machinery/Engineering
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor:
Buyer: Quorum Technologies Ltd
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