Inspecs Group PLC (LON:SPEC) rose on Tuesday after buying the manufacturing operations of lens manufacturer Norville from administration for £2.4mln.
The eyewear frames designer said the acquisition includes £1.2mln of freehold property for Norville's Gloucester site and the remainder for stock, plant, intellectual property and contracts.
Norville generated revenue of £11.8mln in the year to December, with loss before tax of £790,000, while the net book value of the assets acquired was £4.9mln including the freehold property.
Shares advanced 10% to 215p in early trades on Tuesday.