Avon announced the acquisition of Argus thermal imaging camera business of e2v technologies (UK) Limited, a subsidiary of e2v technologies plc, for EUR 3.5million.
Based in Chelmsford, UK, Argus is a leading designer and manufacturer of thermal imaging cameras for the first responder and fire markets. As part of a division of e2v technologies plc, Argus does not produce stand alone audited accounts, however revenue in their last financial year was approximately EUR5million.
Andrew Lewis, Interim Chief Executive Officer of Avon Rubber, said that “Argus is a strategic addition to our fire and first responder product range and we expect the acquisition to be modestly earnings enhancing during the current financial year. The Argus team brings a wealth of technical expertise in this area which will generate longer term product development opportunities for the Protection & Defence business.”