Sunday, July 21, 2024

Banner Jones advises on sale of Peak Sensors Holdings

Banner Jones, in collaboration with Mitchells Accountants, has advised Peak Sensors Holdings on its recent £2.4 million sale to SDI Group plc.

SDI Group plc, quoted on AIM, specialises in the design and manufacture of scientific and technology products for digital imaging and sensing and control applications. This acquisition expands its portfolio and capabilities.

Peak Sensors, a leading UK manufacturer based in Chesterfield, produces standard and bespoke temperature sensors, including thermocouples and resistance thermometers, servicing various industries such as glass, ceramics, incinerators (including energy from waste), cement and ovens.

With a 5,300 sq ft leasehold facility and 14 employees, Peak Sensors reported revenues of £2.1 million for the year ending March 31, 2023.

Further to the acquisition Roshan Aucklah, CEO of Peak Sensors since 2017, will continue to lead the business under SDI Group ownership. Peter Smith, one of the founders, will remain as a consultant. Peak Sensors will now be part of SDI Group’s Sensors and Controls division.

Andrew Fielder, Solicitor and Head of Business Legal Services at Banner Jones, said: “It was a real pleasure to support Peak Sensors in an acquisition deal that will enhance and drive the company’s success. We are also pleased to have worked again with Mitchells Accountants to support another local Chesterfield business.”

Ken Ford, Chairman of SDI, said: “The acquisition of Peak Sensors is a strategic step in our Group growth, demonstrating opportunities to acquire businesses with high-quality products and export growth potential. We expect the acquisition to be earnings-enhancing in the first full year of ownership. We are delighted to welcome Roshan Aucklah, Peter Smith, and their staff to the SDI Group.”

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