Light Science Technologies Holdings Plc (AIM:LST) signed an agreement to acquire Injecta Fire Barrier trade and assets from Fire Barrier International Ltd for £1.75 million on November 21, 2023. The total consideration £1.75 million is a contingent deferred consideration which is payable over a five year payout time limit. Contingent consideration is calculated monthly as 50% of net profit after tax, excluding intra-group charges and non-cash acquisition accounting adjustments.

Consideration is payable 30 days after the end of the month to which it relates, subject to a retention for a proportion of unpaid trade debtor amounts. Injecta Fire Barrier trade and assets generated the revenue of £0.79 million for the year ended 2022. Ritchie Balmer, James Harris and Rob Patrick of Strand Hanson Limited acted as financial advisor to Light Science Technologies Holdings Plc (AIM:LST).