- Judges Scientific has acquired CoolLED Limited, an instrument maker based in Andover, Hampshire.

CoolLED designs, manufactures and markets illumination systems for fluorescence microscopy. The board expects the acquisition to be immediately earnings enhancing. CooLED was acquired for an initial cash consideration of GBP3.5 million with an earn-out capped at GBP1.0 million. The earn-out may be payable subject to CoolLED generating adjusted operating profits of over £1.0 million in respect of the year to 30 June 2016, reducing by £4.50 for each £1 shortfall below £1.0 million. An additional payment will be made to reflect any excess working capital over and above the ongoing requirements of the business. The board expects such payment to be covered by the cash inherited at the completion date.

Story provided by