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Judges Scientific nudges higher as it buys niche lighting group

The expansion of instrument maker Judges Scientific continues, with the acquisition of CooLED - a niche LED microscopy lighting firm...
Judges Scientific nudges higher as it buys niche lighting group
A fluorescent image of a rat liver taken using CoolLED technology...

The expansion of instrument maker Judges Scientific (LON:JDG) continues, with a potentially immediately earnings enhancing acquisition of CooLED - a niche LED microscopy lighting firm - for an initial cash sum of £3.5mln.

CoolLED is based in Andover, Hants, and specialises in making illumination systems for fluorescence microscopy -  a growing niche of the life-sciences market.

LED lights are now gradually replacing conventional mercury based lighting systems in new and existing installations.

Judges chairman Alex Hambro told investors: "CoolLED is a world class company, with an excellent reputation in its niche market within the life-sciences sector, and its positive impact on the Group's financial performance should be immediate.

"We are delighted to welcome Jim Beacher and his colleagues to the group's management team."

In the year to June 30, 2015, CoolLED posted  revenues of £2.5 million and pre-tax profits of £0.5 million.

Judges bought CooLED for an initial cash consideration of £3.5 million with an earn-out capped at £1mln.

The earn-out may be payable subject to CoolLED generating adjusted operating profits of over £1 million for the year to June 30, 2016, reducing by £4.50 for each £1 shortfall below £1 million.

Judges shares added 2.5% to stand at 1.540p.

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