discoverIE Group PLC on Thursday said it has agreed to buy specialist sensor manufacturer Burster Gmbh & Co Kg for an initial €30.6 million.

The Guildford, Surrey-based customised electronics manufacturer and designer said the acquisition is on a debt-free, cash-free basis which will be funded from discoverIE’s existing debt facilities.

In addition to the initial €30.6 cash consideration, an earn-out of up to €12.4 million will be payable for Burster, dependent on financial performance in 2025.

Burster is a Germany-based designer and producer of specialist sensors including precision load cells, torque sensors and displacement and pressure sensors. It sells to around 60 countries and will join discoverIE’s Sensing & Connectivity division.

Burster has a ‘strong track record’, with revenue of around €18 million in 2024 and an underlying profit margin above discoverIE’s 15% medium-term target, discoverIE said.

The company said the acquisition will be accretive to earnings and operating margin from April.

Chief Executive Nick Jefferies said: ‘The group entered the second half with around £70 million of capacity for acquisitions and the acquisition of Burster continues our strategy of building a differentiated, international, growth-focused electronics group with stronger operating margins. The transaction brings another high-quality business into discoverIE with strong alignment to our target markets, which is accretive to both underlying earnings and group margin.’

Shares in discoverIE were up 2.4% to 649.00 pence in London on Thursday morning.

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