discoverIE Group plc (LON:DSCV), a leading international designer and manufacturer of customised electronics to industry, has announced the acquisition, of a 90% interest in 3Gmetalworx, a North American-based designer and manufacturer of electromagnetic shielding products for the electronics industry.
The interest in 3G is being acquired for a cash consideration of US$67.5m (£50.0m) on a debt free, cash free basis which will be funded from the Group’s existing debt facilities. 3G management, who retain a 10%(1) interest, will remain in the business to deliver growth objectives into the medium term. The acquisition supports our strategy of building a differentiated, growth-focused electronics group by strengthening our North American presence in attractive, long-term growth markets, such as security and aerospace & defence.
Founded in 1994, 3G designs and manufactures electromagnetic shielding and thermal management products for use in electronic equipment with its main markets being aerospace & defence, commercial space satellite and industrial. Demand for these products is growing rapidly as communication needs continue to increase. The business has production and sales facilities in Toronto, Canada and in the US in St. Petersburg (Florida) and Oceanside (California).
3G will join the Group’s Connectivity operating unit within the Sensing & Connectivity division, retaining its distinct brand identity. It will work alongside MTC, our existing European based electromagnetic shielding business, which has achieved strong, consistent sales and profit growth since being acquired in 2011. Other businesses in the Group will also benefit from access to 3G’s extensive customer base and sales channels, particularly in North America.
The business has a strong financial track record, with unaudited revenues for the 12 months ended 31 December 2025 of $19.6m (£14.5m) and an adjusted operating profit margin that is well ahead of discoverIE’s medium-term target of 17%.
This acquisition is subject to receipt of regulatory approvals with completion expected in the next few months. From completion, the acquisition will be immediately accretive to the Group’s adjusted earnings and operating margin. The Group’s proforma consensus gearing(2) at 31 March 2026 will increase from 1.7x to 2.2x and is expected to fall to c.1.8x by end of the current financial year.
Nick Jefferies, Group Chief Executive of discoverIE, said:
“The acquisition of 3G continues our strategy of building a growth-focused, international electronics group with strong operating margins and cashflow, and will be accretive to both the Group’s adjusted earnings and operating margin. This transaction is discoverIE’s second recent acquisition with a primary focus on the security and defence market.
3G is an excellent business with a strong management team and growth prospects. We welcome the team and look forward to working with them to build our position in its products and markets both in North America and in Europe.”
