Light Science Technologies completes acquisitions to expand operations

Agricultural technology company Light Science Technologies Holdings has completed two acquisitions aimed at strengthening its financial performance and operational capacity. The Derbyshire-based business stated that the deals are intended to “increase the group’s margin profile and to generate profits and cash”.

The company confirmed last month that it had entered into agreements to acquire RLUK Injection Ltd and its subsidiary Injectaclad Ltd, which is based in Penarth. The transaction for Injectaclad is valued at up to £4.8m. The business provides passive fire protection for risers, voids and service penetrations and will form part of Light Science Technologies’ passive fire protection division.

In addition, the group has acquired the remaining 10 per cent minority interest in UK Circuits and Electronics Solutions not already owned by its holding company. This move gives Light Science Technologies full ownership of the division, allowing complete control over strategic decisions and day-to-day operations.

Both transactions have now been completed.

At the time of the announcement, Simon Deacon, chief executive of Light Science Technologies Holdings, said: “We are extremely excited by the growth opportunity across all of our divisions and believe that these acquisitions will strengthen our ability to increase the group’s margin profile and to generate profits and cash.

“We are well positioned to scale rapidly across all parts of the group and post completion will have the balance sheet strength to win and service larger contracts and generate increasing levels of recurring revenues.

“By leveraging the opportunity across our key markets we are targeting mid-term group revenues of circa £50m via both organic and inorganic growth. We believe the enlarged group will be strongly positioned to deliver significant shareholder value.”

Image source: Light Science Technologies