Acal acquires electromagnetic shielding specialist for £2.1m
European technology service provider, Acal, has announced the acquisition of German electronics specialist MTC Micro Tech Components for £2.1million before expenses.
MTC provides electromagnetic shielding products to the European and Asian industrial electronic markets. The German based company employs 20 staff and has a manufacturing operation in South Korea. Under the agreement, it will form a separate business unit within Acal's Electronics division.
A deferred cash consideration of up to £1m will be payable in January 2013 subject to the business achieving agreed growth targets over the period to 31 December 2012.
Nick Jefferies, group chief executive of Acal, pictured, said: "The acquisition of MTC is a further step in the implementation of our specialisation strategy. Operating in a rapidly growing niche, they bring a strong range of own brand electromagnetic shielding products into the group, which we plan to sell throughout Acal's European organisation."
