discoverIE Group - Fully focused on Design & Manufacturing
With the proposed sale of Acal BFi, discoverIE is taking the final step to exit the Custom Supply business. Gross proceeds of £50m will be used to reduce debt, providing further headroom for Design & Manufacturing (D&M) acquisitions. We estimate that moving away from this lower-margin business will boost group underlying operating margins from 8.2% to 10.2% in FY22 and from 8.6% to 10.6% in FY23. The disposal leaves management fully focused on the growth of the D&M business and increases exposure to structural growth markets.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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