Alcadon acquires xSiCute and complements the Group’s customer offering
Alcadon Group AB (publ) ("Alcadon") has today, 3 May, through its wholly owned subsidiary Networks Centre Holding Company Ltd, acquired xSiCute Limited. xSiCute is a UK-based manufacturer of copper and fibre optic cable assemblies and custom-made components. The company is being acquired by Networks Centre's former principal shareholders Duncan Lindsay and James Reid.
Through XSiCute, Alcadon gains access to in-house manufacturing that can be adapted to specific customer projects and customer solutions. xSiCute currently works closely with Networks Centre and will complement our offering in Europe.
- XSiCute has 7 employees with a turnover for the financial year 1 April 2023 – 31 March 2024 of approximately £300k and an operating loss of approximately £80k.
- The purchase of the company amounts to GBP 1 for the shares and repayment of shareholder loans in xSicute of GBP 189 thousand.
The acquisition has no material impact on Alcadon's results and is financed with existing liquidity.
"The acquisition of xSiCute strengthens the Group's ability to deliver customer-specific solutions in network infrastructure and complements the Group's offering in a good way. Access to our own niche production complements the distribution business and is fully in line with our strategy. The business is also scalable and can be utilized in several geographical markets. With the acquisition, the Alcadon Group now offers customized production in Denmark and the UK combined with outsourced production with partners for longer series."
Sonny Mirborn,
Group CEO, Alcadon Group AB
