StockMarketWire.com - Cable assembly supplier Volex said it had acquired UK counterpart GTK for around £14.3m from funds administered by YFM Equity Partners and its management team.

Headquartered in Basingstoke, GTK had operations in the UK, Romania and Taiwan, with more than 300 active customers and is focused on the Northern European market. The deal involved a £12.5m cash payment plus the issue of around 2.1m new Volex shares at 25p each.

'This acquisition, which is immediately accretive to our earnings per share, represents an important next step in expanding Volex's market-leading cable assemblies division,' executive chairman Nat Rothschild said.


At 9:56am: [LON:VLX] Volex Group PLC share price was +3p at 91p



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