Carr’s Group PLC (LON:CARRC) has acquired STABER GmbH for a net consideration of €6.75m (£6.0m). This brings key IP used in the Engineering division’s remote handling products in house. We make minor adjustments to our FY18 PBT and EPS estimates and reiterate our indicative valuation of 161p.
Acquisition secures innovative IP
STABER designs and manufactures fine mechanical components and modules for high-end robotic systems. The modules incorporate special gearing systems that permit the very precise control of movement required for remote handling devices. Importantly, as the modules do not depend on external cabling or hydraulic systems, there is no restriction on rotational movement.
Wälischmiller and STABER have worked closely for over 50 years, with STABER providing parts for Wälischmiller’s Telbot and master-slave manipulators. Recently, STABER played a key part in helping Wälischmiller develop the Demo 2000 Telbot used for remote inspection and cleaning of tanks in the oil and gas market, an application area where equipment must meet stringent certification requirements.
To read the entire report Please click on the pdf File Below