Now that doesn't happen very often from any director I know!Text...

Now that doesn't happen very often from any director I know!

Text taken from:- https://themarketherald.com.au/structural-monitoring-systems-asxsmn-cements-canadian-audio-business-buy-2021-09-02/

Structural Monitoring Systems (SMN) is set to acquire Canadian-based Eagle Copters' audio products business division for C$4.3 million (A$4.6 million).SMN believes the deal is "the best add-on opportunity" it has found since acquiring its subsidiary Anodyne Electronics Manufacturing (AEM) in late 2017, through which it is now completing the Eagle Copters buy.
The purchase is tipped to bring in an annual top-line sales increase of roughly A$3.5 million and add approximately $2.2 million per annum to its baseline earnings before interest, taxes, depreciation and amortization (EBITDA).According to SMN, key customer segments will include rotary and fixed-wing aircraft for law enforcement, coast guard, military, forestry and firefighting.
The cost of the acquisition is set to be funded through SMN's existing HSBC Bank Canada credit facility.
SMS director Stephen Forman has agreed to put up an unsecured US$800,000 (A$1 million) loan to AEM to meet HSBC's credit facility requirements.Structural Monitoring Systems Chief Executive Officer Toby Chandler commented on the deal."With the addition of the Eagle Audio business, and potential further acquisitions that will be considered over the coming quarters, today the value of the AEM platform is multiples of the purchase price SMS historically paid," he said.Structural Monitoring Systems shares were trading up 0.57 per cent at 88 cents at 12:18 pm AEST.