Alaris in talks to buy UK business

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Alaris in talks to buy UK business

Published Date: 2021-01-14 | Source: Stephen Gunnion | Author: Stephen Gunnion

Alaris in talks to buy UK business

The antenna specialist has said it wants to strengthen its radio frequency and microwave electronic design and manufacturing capabilities.

Alaris Holdings says it has entered talks to acquire a business operating in the UK as it continues its global expansion. It gave no details about the transaction.

Alaris is a global radio frequency (RF) technology holding group specialising in defence and specialised antennas. It has four main divisions, including Centurion-based Alaris Antennas, which caters to an international client base; Finland-based COJOT, which designs, develops and manufactures innovative broadband antennas; and US-based antenna businesses mWAVE and Alaris USA.

Just over a year ago, PSG Alpha Investments, a unit of PSG, sold its 25% stake in the company to Tadvest, an investment holding company listed in Mauritius which invests in attractive, high yielding, cash generative assets in SA, DRC, Poland, Australia, Sweden and North America.

In its annual results, Alaris said it planned to continue diversifying into different territories and entering new market segments to ensure ongoing profitable organic and acquisitive growth. It said a key strategic objective this year would be to further strengthen its radio frequency and microwave electronic design and manufacturing capabilities - ideally through an acquisition.

The group reported a small decline in revenue to R243 million for the year to end-June, while trading profit declined by 27% to R39.5 million due to the impact of Covid-19 on its operations. Its after-tax profit fell 25% to R31 million.

The company's shares closed unchanged at R2.49 yesterday.





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