Melksham-based Avon Rubber (
www.avon-rubber.com) has bought the thermal-imaging camera business Argus in a multi-million-pound deal.
The parent company of Argus, E2V Technologies, said that the sale is part of its strategy to simplify its operations and focus on its core customers, markets and opportunities. Avon will buy Chelmsford-based Argus for £3.5 million in cash.
Andrew Lewis, interim chief executive at Avon Rubber, said: “Argus is a strategic addition to our fire and first-responder product range, and we expect the acquisition to be modestly earnings-enhancing during the current financial year.
“The Argus team brings a wealth of technical expertise that will generate longer-term product development opportunities for the protection and defence business.”