Diploma PLC (LSE:DPLM) acquired Tennessee Industrial Electronics, LLC from Summit Park II, LP managed by SPP Management Services, LLC for £76 million on March 6, 2023. In aggregate, Capital Raise of 9,350,965 New Ordinary Shares (comprising 9,297,005 Placing Shares, 3,960 Subscription Shares and 50,000 Retail Shares) represents approximately 7.5% of the Company's issued ordinary share capital. The proceeds of the proposed Placing, Subscription and Retail Offerwill be used to refinance the consideration paid for the acquisition of Tennessee Industrial Electronics, LLC. Kevin Conroy, Adam Hunia, and Brad Keyworth of Lincoln International LLC served as financial advisor and McGuireWoods LLP served as legal advisor to Tennessee Industrial Electronics, McGuireWoods LLP served as legal advisor to SPP Management Services, LLC. Lazard, Inc. served as financial advisor and Foley & Lardner LLP served as legal advisor to Diploma PLC (LSE:DPLM).

Diploma PLC (LSE:DPLM) completed the acquisition of Tennessee Industrial Electronics, LLC from Summit Park II, LP managed by SPP Management Services, LLC on March 6, 2023.