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© pichetw dreamstime.com Business | September 18, 2019

APC Technology courted by takeover offer

Specialist Components along with APC Technology Group, announces that the companies have reached agreement under which Specialist Components will make a recommended cash offer for the entire issued and to be issued share capital of APC

Specialist Components is offering GBP 10 pence per APC share which values the existing issued share capital of APC at about GBP 18.26 million. Based in Rochester, Kent in the UK – with three more sites across the UK – APC Technology Group provides specialist electronic components and products to a number of blue-chip clients within the defence, aerospace well as in healthcare. Its products range from mission critical components and Internet of Things solutions, to high efficiency LED lighting. In its latest financial year to 31 August 2018, the APC Group reported audited total revenue of GBP 17.15 million (2017: GBP 15.56 million). With this takeover offer, Specialist Components is intending to take AIM-listed APC private. The company says that it has “has full confidence in the management of APC and supports its existing strategy. However, it believes that the public market place is a restricting environment for the Company such that the Company is unlikely to achieve its full potential as a listed entity with the additional regulations, constraints and expenses associated with maintaining a UK public quotation.” Specialist Components believes that the Company would be better suited to the more long-term focus of the private company environment. Following a successful takeover, Specialist Components intends to invest in and support the growth of APC by enhancing its services to its established customer base, growing the customer base and developing new product offerings. Specialist Components says it also backs the strategy of pursuing bolt-on acquisitions.
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December 12 2019 10:59 am V14.8.5-2