Buying scientific instruments

e2v technologies has acquired UK-based Gresham Scientific Instruments for £5.1 million.

Gresham, based near High Wycombe, is a manufacturer of X-ray detectors and associated products for Energy Dispersive X-ray (EDX) and X-ray fluorescence (XRF) spectrometry.

The company supplies products worldwide to OEM’s, industrial and scientific end users and accelerator research laboratories. Over 70% of sales are exported.

In addition, Gresham is the UK distributor for the range of Skyscan micro-CT scanner systems that are used in non-destructive 3D X-ray imaging.

The acquisition of Gresham introduces new technologies and products to e2v’s Sensors portfolio supplying into the high growth Medical and Science sector.

In its audited accounts for the year ended 31 March 2005, Gresham had sales of £2.6m. The sales growth in the year ended 31 March 2005 was 16%.

Sales in Q1 2006 are currently 39% ahead of the same period in 2005. EBIT and Net assets at 31 March 2005 were £0.4m and £1.4m, respectively.