Acal to acquire electronics, photonics component supplier

PARIS — Components and systems distributor Acal plc announced it is acquiring the entire issued share capital of France-based BFi Optilas SAS for 10 million euros ($14.78 million) payable in cash and 2 million euros ($2.95 million) of Acal ordinary shares to be issued on completion.

By acquiring BFi Optilas, a private specialized distributor of electronic and photonic components, modules and systems, Acal said it expects to enhance earnings in the financial year to 31^st March 2011, and to create long term value for shareholders.

Commenting on the transaction, Nick Jefferies, CEO of Acal, said the acquisition of BFi OPTiLAS is a key step in the company's stated strategy of specialization. "By bringing the two businesses together, we are creating a clearly differentiated specialist, providing electronic and photonic products and services to over 14,000 customers across Europe. This transaction creates the scale required to succeed in the key European markets, and enables substantial operational synergies," he declared.

Founded in 1955, BFi Optilas reported revenues of 105.0 million euros ($155.2 million) for the twelve months to June 2009. Its EBITDA before non-current operating income and expenses reached 0.7 million euros ($1.03 million) and operating profit from current operations amounted to 48,000 euros ($70,900).

The company has five business units, namely Specialty Components; Communication; Photonics and Imaging.

The fifth business unit gathers Metals & Materials, Analytical Instruments, Computer Security products; CCTV and Electronic TME.