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Highlights
- Saltire enters letter of intent to acquire Electric Picture, a leader in visual display systems.
- The deal will enhance Saltire’s existing platform at Strong/MDI Screen Systems, Inc.
- The transaction is expected to close in Q2 2025, pending regulatory approvals and due diligence.
Saltire Capital Ltd. (TSX: SLT.U) (TSX: SLT.WT.U), a company focused on strategic acquisitions and business growth, has announced that it has entered into a non-binding letter of intent to acquire Electric Picture Display Systems, Inc. ("Electric Picture"). Known for its expertise in designing, engineering, and supporting visual display systems, Electric Picture serves commercial customers across North America. The proposed acquisition will be financed through a combination of cash from Saltire's revolving credit facility and issuance of common shares of Saltire.
Andrew Clark, CEO of Saltire, expressed his excitement about the acquisition: "We are thrilled to announce our decision to partner with Electric Picture and to assist in continuing to build the business that R.P. Higgins and his team have developed over the years. This is a highly accretive acquisition offering many synergies with our existing platform at Strong/MDI Screen Systems, Inc." The acquisition aligns with Saltire’s strategy of expanding its footprint in the visual display systems industry, building on the strengths of its current operations.
RP Higgins, President and sole owner of Electric Picture, shared his enthusiasm about joining the Saltire group: "We are delighted to become part of the Saltire family. We believe Saltire and the team are the right group to take this business to the next level. It is a truly exciting time for Electric Picture, and we are looking forward to seeing the business grow in the coming months and years." The acquisition represents a significant milestone in the growth and development of Electric Picture, positioning the company for future expansion under Saltire’s leadership.
The acquisition is expected to close in the second quarter of 2025, subject to the negotiation of a definitive agreement and satisfaction of customary closing conditions. These conditions include due diligence, regulatory approvals, and approval from the Toronto Stock Exchange (TSX). Upon completion of the transaction, Saltire will integrate Electric Picture’s capabilities into its broader business portfolio, leveraging synergies across its operations.
Saltire Capital Ltd. is a diversified investment company focused on acquiring businesses with strong growth potential. With its acquisition of Electric Picture, Saltire continues to expand its presence in the visual display systems industry, further strengthening its portfolio.
