Creo Medical Group plc (AIM: CREO), a medical device company focused on the emerging field of surgical endoscopy, announces the acquisition of Aber Electronics Limited (“Aber”), a UK-based manufacturer and designer of power amplifiers and radio frequency products, for a fixed cash consideration, plus a contingent consideration over three years.
Creo is an existing customer of Aber, using its products within the CROMA Advanced Energy Platform. This acquisition will complement Creo’s research, design and manufacturing processes, provide additional specialist microwave and radio frequency capability and expertise within the business and enhance a key element of the Group’s supply chain. Creo anticipates leveraging the additional resource and expertise that it has acquired to further develop its Kamaptive Technology, the advanced energy that powers the CROMA Platform.
Craig Gulliford, Chief Executive Officer of Creo, commented:
Being an existing customer of Aber and having worked closely with the management team for a number of years, we are familiar with the quality of its products and the team there, and I’d like to welcome them all to the Creo Group. This acquisition fits with the ‘Buy’ aspect of our three-tiered ‘Build, Buy, Partner’ strategy, in acquiring a company with existing manufacturing operations, to complement and add capability in Creo’s product development and production.
Andrew Haynes, Managing Director of Aber Electronics, commented:
We are pleased to join Creo Medical, with which we have a longstanding business relationship. We look forward to providing our specialist Microwave and RF products, and development and manufacturing capability as part of the Creo Group.
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