Update: North American acquisition
Acal reports that trading in the four months to 31 January 2016 has continued in a similar vein to H116, with a strong performance from the Design & Manufacturing (D&M) business partly offset by continued weakness in UK Custom Distribution. The company has made its first direct acquisition in North America for £2m, expanding its magnetics capability and providing scope for further cross-selling. With management expectations for FY16 earnings unchanged, we maintain our forecasts.discoverIE Group designs, manufactures and supplies electronic products, supplying customers in the transportation, medical, renewable energy and industrial sectors. Co.'s business is focused in five technology areas, which include communication and sensors, imaging and photonics, power and magnetics, microsystems, and electromechanical and cabling. Co. operates across two divisions: Design & Manufacturing, which supplies custom electronic products which are designed or modified from an existing product to customer specifications; and Custom Distribution, which provides technically demanding, customized electronic, photonic and medical products to industrial manufacturers.
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