--News Direct--
Light Science Technologies Holdings PLC (AIM:LST) (LSTH) CEO Simon Deacon speaks to Thomas Warner from Proactive after the technology company announced the acquisition of Injecta Fire Barrier (IFB).
LSTH will acquire IFB from Deacon’s Fire Barrier International Ltd on a contingent deferred consideration basis for up to £1.75 million over a five-year payout time limit. Deacon says the acquisition aligns with the UK government's initiative to improve fire safety and suggests a market potential of £50 billion.
Deacon says Injector Fire Barrier will fit seamlessly into the existing LSTH portfolio, which includes UK Circuits, a company with over 20 years in manufacturing and a diverse market presence ranging from pest control to the music industry.
The acquisition is timely, considering the company's long-standing involvement in manufacturing fire safety products and a robust forward order book of over £600,000, alongside a quoted pipeline of over £7mln. Additionally, LSTH recently acquired Tomtech, bolstering its controlled environment agriculture sector.
This move enhances their offerings in lighting sensors and control systems, and positions them as a turnkey provider in the field. The company is also investing in AI to automate farming processes.
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