AB Dynamics, the Bradford-upon-Avon based designer, manufacturer and supplier of advanced testing systems and measurement products for the global automotive market, is going for growth by proposing to raise up to approximately £50.1 million, by placing up to £45.1 million and an Open Offer of up to £5 million at a price of 2200 pence per share.
Founded in 1982 as a vehicle engineering consultancy, AB Dynamics is now a global supplier of test systems. Its clients include the top 25 global vehicle manufacturers, all seven Euro NCAP laboratories and numerous government test authorities.
Applications range from highly-efficient durability testing to precision control for critical new areas of technology development such as active safety and autonomous driving, all with efficient data and protocol integration from virtual to physical to real-world.
The company intends to use the net proceeds of the proposed Placing to support potential acquisition opportunities, adding important production capacity and for ongoing working capital requirements.