Petards Group plc (AIM:PEG) agreed to acquire Affini Technology Limited for £2.8 million on June 13, 2024. Under the terms, £2.8 million will be paid in cash and 4,176,810 new shares of Petards Group plc (AIM:PEG) will be issued. The Cash Consideration payable at Completion is to be funded from existing cash resources of approximately £1.7 million and £0.8 million from the Company's unutilised bank overdraft facility provided by Santander UK plc.

WH Ireland Limited acted as financial advisor to Petards Group plc. For the year ended, Affini had revenues of £5.604 million, EBITDA of £0.652 million, operating profit of £0.401 million and net asset of £2.276 million.