Ventec International Group Co.,Ltd. (TWSE:6672) entered into an asset purchase agreement to acquire certain printed circuit board assets from Holders Technology plc (AIM:HDT) for £1.6 million on August 24, 2021. Consideration for the transaction will be paid in cash. Under the terms of the asset purchase agreement, approximately 90% of the consideration will be paid at completion, and approximately 10% will be paid by 31 October 2021 or shortly thereafter. The assets include inventory of a range of consumable products, as well as associated machinery used in the fabrication process of these materials which are supplied to the European PCB industry. It is anticipated that associated PCB staff in Germany will also transfer to Ventec on completion of the transaction.

The transferred assets contributed revenues of £4.6 million for the year ended November 30, 2020. Subject to certain conditions, completion of the disposal is expected to take place on 30 September 2021. The disposal proceeds will be used to invest in these activities and for general working capital purposes.

Matthew Johnson and Caroline Rowe of SP Angel Corporate Finance LLP acted as nominated advisors to Holders Technology plc.