European specialist electronics supplier, Acal plc, has announced the acquisition of Young Electronics Group (“YEG”) in a deal worth over £1.7m before expenses, from H Young Holdings plc. The cash consideration has been paid from the Group’s existing cash resources.
YEG is a specialist provider of electronic components, solutions and services, including solid state lighting, power, power cords and custom cable assembly, with a significant proportion of own label products sales. Based in High Wycombe and trading predominately in the UK and Ireland, YEG made a small operating loss during its year ended 31 December 2012.
The business will be integrated into Acal’s Electronics division to generate operational synergies as well as opportunities for cross selling. Integration is expected to complete around the end of the financial year.
Commenting Nick Jefferies, Chief Executive of Acal plc said: “The acquisition of the Young Electronics Group expands our existing technology areas as well as adding new ones. By integrating the operations into our Electronics division, we expect to create efficiency savings whilst retaining the commercial and technical capabilities. As a part of Acal, YEG gains access to over 25,000 customers, whilst Acal gains access to new technologies and products, both of which will create cross selling opportunities. We are delighted to welcome them into the Group.”