SDI Group plc (AIM:SDI) agreed to acquire Safelab Systems Ltd for £7.7 million on March 24, 2022.Total consideration is forecast to be approximately £7.7 million, net of cash acquired. Initial consideration of £5.5 million, of which £5.3 million paid in cash and £0.2 million in ordinary shares of 1 penny each in the capital of the Company at a price of 169.9 pence per Ordinary Share. The shares issued are subject to a one-year lock-in agreement and payment in cash shortly after completion, equivalent to the net tangible assets of Safelab at completion, currently estimated at £2.9 million and which net tangible assets are estimated to include £0.7 million of cash and no bank debt. The net assets include freehold ownership of Safelab's manufacturing facility, valued at approximately £1.2 million. The cash consideration will be funded from existing cash resources and from the Group's revolving credit facility with HSBC UK Bank. finnCap Ltd acted as financial advisor to SDI Group plc.