REG-Dialight PLC Acquisition
Date/Range: 11-JAN-2006
Short Abstract: REG-Dialight PLC Acquisition
Date: Immediate release:
Wednesday 11 January 2006
Contacts: Roy Burton – Group Chief Executive
Cathy Buckley – Finance Director
Dialight PLC
Tel: 01480 447490
Alistair Mackinnon-Musson
Philip Dennis
Hudson Sandler
Tel: 020 7796 4133
Email: dialight@hspr.com
DIALIGHT PLC
Acquisition of Lumidrives Ltd
Dialight Plc, the UK based leader in Applied LED Technology, announced the
acquisition from Management of 100% of the shares of Lumidrives Ltd for £2.45m
in cash and £550k in Dialight Shares.
Based in the UK, Lumidrives is one of the leading suppliers of Solid State
Lighting Fixtures and Components to the European Architectural Lighting Market.
Over the last four years, the company has grown to a revenue of over £3m and has
gross assets of over £1 million. It has an extensive customer base, excellent
growth prospects and a solid portfolio of intellectual property. The Senior
Management of Lumidrives, Gordon Routledge and Alison Ambler have committed to
remaining with the company and will be responsible for Dialight’s growth in the
European Solid State Lighting Market. Further details of Lumidrives’ products
can be found at www.lumidrives.com. The acquisition is expected to be earnings
enhancing in 2006.
Commenting Chief Executive Roy Burton said:
“We are pleased to have made this acquisition of Lumidrives which will position
Dialight in the emerging Solid State Lighting Market in Europe. We are acquiring
not only good product, but also a strong customer base and an enthusiastic and
capable Management Team who have demonstrated by results their ability to grow
profitably in this market. I expect this to be an enhancement to earnings in
2006.”
– ENDS –
About Dialight
Dialight Plc is one of the world’s largest suppliers in the field of Applied LED
Technology. It operates in two principal segments; Components where low
brightness LEDs are used for status indication in electronic equipment; and
Signals/Illumination utilizing the latest high brightness LED technology for
Traffic and Rail Signals, Obstruction Lighting and Industrial and Architectural
Lighting. Lumidrives will enhance the scope and geographical presence of the
high growth Signals/Illumination segment.
This information is provided by RNS
The company news service from the London Stock Exchange