Acal, a pan European specialist provider of technology services, announce the acquisition of 100% of Compotron, for a maximum consideration of £7.1m (€8.5m) before expenses. Compotron has been acquired from BW-Holding, a company wholly owned by the Compotron management, Mr Brack and Ms Lohmaier.

The company is a specialist provider of electronic communication and fibre optic components to the European industrial electronic markets. Based in Munich with operations in Germany, the UK and Denmark it employs 22 staff. The company will form a separate business unit within Acal’s Electronics division and will retain its strong independent brand identity.

The initial cash consideration of €6.8m (£5.7m) will be paid from the Group’s existing cash resources. Additional deferred cash consideration of up to €1.7m (£1.4m) will be payable in January 2013 subject to the business achieving agreed performance targets over the next two years. Mr Brack and Ms Lohmaier will remain with the business.

Compotron’s revenues for the year ended 31 December 2009 were €7.3m (£6.1m) and it generated a pre tax profit of €1.0m (£0.8m). Gross assets at 31 December 2009 were €2.2m (£1.8m). Forecast revenues for the year ended 31 December 2010 are approximately €10m (£8.3m), 37% ahead of the previous year.