£5.5 million deal will help Gloucestershire firm grow
A specialist engineering firm from Gloucestershire that works with industry giants including Renishaw, says it will continue to grow after being sold to an Oxfordshire-based plc for £5.5 million.
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Measurement specialist Sempre Group, a Gloucester-based firm which works with more than 25 “well-known manufacturers” including the likes of county engineering giant Renishaw, has been sold for £5.5 million.
The Barnwood-based business, which was founded in 2000, is said to have a “deep industrial knowledge and an established salesa and services organisation”, as well as a profitable track record driven by anual growth revenues of eight per cent over the last four years.
The firm, which reported revenue of £6.5 million in the year ending 31 December 2023 and a profit before tax of £0.7m and which has net assets of £1.7m, has been bought by Oxford Metrics plc, a smart sensing and software company, servicing life sciences, entertainment and engineering markets.
According to Oxford it paid £5.5 million for the Gloucestershre business, to be funded through a a cash consideration of £5 million from existing resources and up to £0.5 million through an earnout contingent on Sempre meeting business performance targets.
Mike John, founder of Sempre, said: “As part of Oxford Metrics, Sempre will have access, advice and the resources to scale and expand to new markets and geographies.
“One of our key criteria for exiting the business was ensuring we found the right home to take Sempre to the next level.
“Oxford Metrics is exactly that, it shares our company culture and values and has a track record of supporting and growing growth businesses.”
Jim Mangan, director of Sempre, said, “Sempre provides high quality, accurate and reliable metrology solutions so Oxford Metrics, with its track record in precise measurement, revolutionising processes through its technology and software is the perfect fit to take us to the next stage of our development.
“We’re really excited to be joining as the group accelerates its focus and offering in smart manufacturing.”
Imogen O’Connor, chief executive officer of Oxford Metrics, said the deal “strengthens our smart manufacturing division” and “brings us a deep pool of industry knowledge, an established sales and services organisation plus access to new customers, partners and products, taking us into new markets”.
She added: “To continue growing our smart manufacturing division our investment strategy needs to be in both people and products with clear commercial and technical synergies.
“Today highly accurate, error-proof production is mission critical. Sempre helps blue-chip manufacturers to be more efficient and improve quality – ultimately saving time and money.
“As smart manufacturing increasingly becomes the standard, we welcome our new colleagues and move forward together to capture more of this important market.”
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