Roxboro acquires Mobrey Group

The Roxboro Group, which includes Solartron, has acquired the entire issued ordinary share capital of each company in the Mobrey Group. The Mobrey Group is being acquired from Meggitt plc for a consideration of £22.25 million. Mobrey manufactures level, flow and pressure instrumentation products for liquid and gas measurement, with 80% of business relating to level sensing. The company employs 600 people in the UK. The Roxboro board has strengthened its position in the key markets with this acquisition and with the integration of Norwich Aero Products and ISA Controls which were purchased at the beginning of 1999. At the time of Roxboro’s interim results in September, the group commented that given a significant improvement in its order books since the beginning of 1999 and signs of economic recovery in Asia, “the immediate and longer term prospects for Roxboro are encouraging.” Trading performance of Mobrey during the first five months of the fiscal year has improved, despite the depression seen in the process sector.