Unique System (UK) Ltd. acquired Subsea Innovation Limited from Tekmar Group plc (AIM:TGP) for £1.9 million on May 2, 2024. The consideration value comprises an initial cash payment of £27,000, a cash payment of £1.4 million relating to a trade debtor, payable post-Completion, and a further cash payment of £549,000 payable 12 months post-Completion. For FY23, the latest audited period prior to announcing the Transaction, SIL reported an Adjusted EBITDA loss of £1.4 million and net assets of £1.4 million. These proceeds will be available to support the Group's disciplined investment programme to drive near-term growth and for general working capital purposes. Rick Thompson and Sam Butcher from Singer Capital Markets Advisory LLP act as financial advisor for Tekmar Group plc (AIM:TGP).

Unique System (UK) Ltd. completed the acquisition of Subsea Innovation Limited from Tekmar Group plc (AIM:TGP) on May 2, 2024.