Acal to acquire BFi Optilas
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European distributor Acal is to acquire the entire issued share capital of photonics specialist BFi Optilas for €10million and 2million Acal ordinary shares to be issued on completion.
The Acal board said that the acquisition will strengthen its business across mainland Europe and expand the product portfolio. BFi OPTiLAS is a similar specialised distributor of electronic and photonic products and in all the geographic areas in which it operates, Acal also has operations. Whereas approximately 50% of Acal's business is in the UK, the majority of BFi Optilas' business is derived from mainland Europe, a region where Acal has continued to suffer losses.
Nick Jefferies, chief executive of Acal stated that the acquisition was a key step in the company's strategy of specialisation. He said: "By bringing the two businesses together, we are creating a clearly differentiated specialist, providing electronic and photonic products and services to over 14,000 customers across Europe. This transaction creates the scale required to succeed in the key European markets, and enables substantial operational synergies."
