Updates

Scientific Digital Imaging - Buys Chell for 5.5x operating profit

January 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares shot ahead after SDI bought Chell, its fifth acquisition in 2019 and its 10th in the past four years. Norfolk-based Chell specialises in the manufacture of pressure, vacuum and gas flow measurement instruments for the aerospace, vehicle aerodynamics and power generation industries. Customers include Pratt & Witney, Rolls-Royce and F1 teams. SDI has paid £4.3m - 0.9x EV/Sales and 5.5x EV/EBIT.The acquisition overshadows the interims released a few days before Christmas. Revenues were up 42% to £11.45m (6% organic) and adjusted pretax profit and eps increased 36% and 28% to £2m and 1.7p, respectively.Divisionally, Sensors & Control revenues increased 58% to £5.8m, which included Therma ...

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