AB Dynamics plc (AIM:ABDP) acquired Venshure Test Services LLC from Gerard Glinsky and David Ploucha for $30 million on April 3, 2024. The Acquisition has been completed on a cash-free and debt-free basis. Consideration comprises of initial cash consideration of $15 million and contingent payment of $15 million will be payable in cash in two tranches for 2 years following completion. The initial cash consideration funded from the Group's existing cash resources and short-term utilisation of part of the Group's revolving credit facility. Gerard Glinsky and David Ploucha will remain in the business to ensure ongoing delivery of the growth expectations. For March 31, 2024, Venshure Test Services reported net assets of $5 million. Mike Bell and Ed Allsopp of Peel Hunt LLP acted as financial advisor to AB Dynamics.

AB Dynamics plc (AIM:ABDP) completed the acquisition of Venshure Test Services LLC from Gerard Glinsky and David Ploucha on April 3, 2024.