Acal, an European specialist provider of technology services, acquired 100% of MTC Micro Tech Components GmbH and its affiliate EMC Innovation Limited (together defined as MTC), for an upfront cash consideration of 2.4 million Euro (£2.1 million) before expenses. MTC has been acquired from Mr Bächer. MTC is a specialist provider of Electromagnetic shielding products to the European and Asian industrial electronic markets.

Based in Germany, with a manufacturing operation in South Korea, MTC employs 20 staff. The company will form a separate business unit within Acal’s Electronics division and will retain its strong independent brand identity. Additionally, a deferred cash consideration of up to 1.1 million Euro (£1.0 million) will be payable in January 2013 subject to the business achieving agreed growth targets over the period to 31 December 2012. Mr Bächer will remain with the business.

MTC’s revenues for the year ended 31 December 2010 were 2.9 million (£2.5 million) and it generated a pre tax profit of 500.000 Euro (£0.4 million). Revenue and profitability for the nine months to 30 September 2011 were 15% ahead of the prior year. The acquisition is expected to be earnings enhancing on an underlying profits basis for the Group’s year ending 31 March 2012.