Acquisition of the minority shareholding in GdB
Judges Scientific plc has acquired the remaining 18% minority shareholding in its Brazilian subsidiary, Geotek do Brasil ltda, for an initial consideration of BRL13m (£1.9m), with potential additional payments of up to £0.7m based on excess cash and an earnout tied to 2025 and 2026 adjusted EBIT exceeding BRL16.1m (£2.3m). The transaction is expected to be immediately earnings enhancing for the Group.
Select text to share a quote on X · sign in to keep highlights & notes in your JDG notes
Judges Scientific, a group focused on acquiring and developing companies in the scientific instrument sector, announces that its subsidiary Geotek Limited has acquired the remaining minority share of its majority-owned subsidiary Geotek do Brasil ltda ("GdB"). GdB operates Geotek's core digitalisation business in Brazil.
The 18% minority share in GdB has been acquired for an initial consideration of BRL13m (£1.9m), plus excess cash and earnout of up to £0.7m. The initial consideration will be payable in 60 monthly instalments of BRL324K (£0.045m) including interest.
If, and to the extent GdB's average adjusted EBIT for the years 2025 and 2026 exceeds BRL16.1m (£2.3m) (an amount equivalent to GdB's adjusted EBIT for the twelve months to 28 February 2025), an earn-out equal to 18% of 4.5 times the excess will be payable, subject to a cap of £0.7m.
The Board of Judges expects the transaction to be immediately earnings enhancing for the Group.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.