Gooch & Housego PLC (GHH.L), a manufacturer of optical components & systems, Wednesday said it has acquired Phoenix Optical, an optical manufacturer in the UK, for up to 6.75 million pounds.
"In line with G&H's strategy of 'speed to value' acquisitions, Phoenix provides the Group with the opportunity to expand and accelerate its reach in the UK and European Aerospace & Defence markets," the company said in a statement.
The total consideration of 6.75 million pounds includes an initial cash payment of 3.4 million pounds, along with deferred payment of up to 3.35 million pounds based on Phoenix's performance in the three years ending 30 June 2027.
Phoenix had revenue of about 6.6 million pounds and EBITDA, or earnings before interest, taxes, depreciation, and amortization of nearly 0.4 million pounds for the year ended June 30, 2024.
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