Bahrain-based investment bank Investcorp has acquired Leica Geosystems of Switzerland, in a deal valued at about SF 450 million ($313 million). The acquisition, from Lancet Investments of the Netherlands, was carried out together with the management of Leica Geosystems.

It was the second major deal of its kind announced by Investcorp so far this year (MEED 19:6:98; 20:3:98).

Investcorp describes Leica Geosystems as a significant global player, with an excellent reputation. The company manufactures and distributes high-precision measurement instruments used for surveying, positioning and large structure industrial measurements. 'It enjoys considerable market share, but there is additional scope for future growth,'

Investcorp's Johannes Huth said in a 3 September statement. 'The group expanded by 10 per cent last year and we are confident that this double-digit growth will continue in the future.'

Earlier this year, Investcorp completed the acquisition and merger of two UK printing companies, Watmoughs and British Printing Company, in a deal worth some $900 million. The bank had total assets of $1,930 million at the end of 1997.