King’s Lynn-based Porvair acquires Canadian laboratory supplies manufacturer
King's Lynn-based filtration and environmental company Porvair has made a Canadian acquisition in what is its third takeover this year.
The chief executive of the firm, based on Bergen Way, said the acquisition of Pulse Instrumentation complements its existing operations and will be integrated into its microfiltration division.
It is the firm's second acquisition in the water business this year and industry broker Peel Hunt said it is a growing industry with a scarcity of water in many parts of the world.
Pulse Instrumentation, which manufactures and distributes water analysis products, principally supplies environmental laboratories in the Americas.
The acquisition will increase the base of laboratories served by Porvair and widen the range of products on offer.
You may also want to watch:
Chief executive Ben Stocks said: 'Pulse complements our existing operations well. Porvair already has market leadership in the analysis of inorganic water contamination. Pulse will increase our customer base and product range, enabling us to pursue cross-selling opportunities in the environmental laboratory market. We are grateful to the de Rooy family for their co-operation in this project.'
Brokers have increased their sales and profit expectations for Porvair for 2012 and 2013 as a result of the acquisition.
- 1 38 Norfolk schools and university named in students' accounts of sex abuse
- 2 Man denies causing death by careless driving on A47 in Norfolk
- 3 School apologises for uniform advice wording after sexism claims
- 4 'We offered £20k over and still lost out': Frantic housing market revealed
- 5 WATCH: Heron patiently waits for fish and chips
- 6 Teenage boy found a week after being reported missing
- 7 Two Norfolk restaurants in top five 'secret' places to eat on English coast
- 8 Canaries closing in on new shirt sponsor
- 9 Driver cut from vehicle after crash on Norwich ring road
- 10 A47 driver stopped in smashed up Vauxhall and failed drug test
Shareholders were told earlier this month that the company's pre-tax profits were ahead of expectation.
The filtration company saw its revenue jump 12pc ahead of last year in the four months to March 31 this year.
The company designs and makes a range of filtration products which are used in a variety of niche filtration markets, principally aviation, energy and industrial processes and environmental laboratories.
In March the company acquired the assets of powder metal manufacturer Pell Industries which it assimilated into its metals filtration division.
The statement to the firm's annual general meeting said that in the microfiltration division sales revenues were 10pc ahead of the same period in the previous year. Revenue from aerospace grew by 22pc and the order book strengthened throughout the period.
The company will be announcing its interim results for the six months ending May 31 on Tuesday, June 26.