Member Article

West Yorkshire’s 600 Group acquires £3 million stake in US laser firm

Heckmondicke machine tools and laster marking company The 600 Group PLC has announced that their US subsidiary has acquired 80% of the stock of TYKMA, Inc, a US based laser marking business, for an initial consideration of US$4.68 million (£3.04 million).

The acquisition will be financed by an issue of loan notes which will also be used to repay existing debt and provide the Group with additional working capital.

TYKMA is a privately owned company based in Chillicothe, Ohio, which specialises in the design, production and distribution of laser marking systems for a broad range of industry applications.

These industrial laser marking systems are used for traceability, branding and component identification on metals, carbide, painted or anodized materials, most plastics and have been incorporated into the production processes of numerous US industrial companies in the electronics, medical, tooling and automotive sectors.

During the year ended 31 December 2014, the Company reported net operating income of US$0.73 million on revenues of US$8.40 million.

As at 31 December 2014, TYKMA had US$1 million of net assets.

Nigel Rogers, CEO said: “We are delighted to announce this strategic investment in the product identification industry segment.

“We share a common vision with the TYKMA management that the combination of Electrox and TYKMA will enable us to build a leading position in this fast developing marketplace, based on shared values of outstanding customer service, excellent product technology, unrivalled professionalism in sales and distribution, and depth of engineering expertise”.

This was posted in Bdaily's Members' News section by Clare Burnett .