Business
Acquisition of Nolato Hertila in Components
Acquisition of Nolato Hertila in Components.
About this update from Essentra Plc
[{"type":"text","content":"\n \nRNS Number : 7879T Essentra plc 06 July 2018 \n\nESSENTRA PLC\n \nACQUISITION OF NOLATO HERTILA IN COMPONENTS DIVISION\n \nEssentra plc (\"Essentra\" or \"the Company\") today announces that it has acquired 100% of the share capital of Nolato Hertila AB (\"Hertila\") for a cash consideration of approximately SEK 58m (c. £4.9m), subject to customary adjustments.\n \nBased in Sweden, Hertila is a leading manufacturer and distributor of caps and plugs and other plastic components for a wide range of industrial end markets - including automotive, mining, coating, hydraulics and medical - and will be reported under the Company's Components division. The acquisition of Hertila not only expands the division's product range but also adds manufacturing capacity in Scandinavia, complementing Essentra's existing facility in Sweden.\n \nFor the year ended 31 December 2017, Hertila generated revenue of SEK 39.9m (c. £3.4m). Hertila has been acquired on a cash-free, debt-free basis, funded from existing facilities, and the transaction will be immediately earnings enhancing to the Company.\n \nCommenting on today's announcement, Paul Forman, Chief Executive, said:\n \n\"The acquisition of Hertila is a further example of our Components division strategy being put into action, following on from the Micro Plastics transaction at the end of last year, where the integration is in line with expectations. As a leading provider of caps and plugs, Hertila strengthens one of our core product ranges, adds valuable injection moulding capability in Northern Europe and provides attractive opportunities for cross-selling, making it a great strategic fit with our own business.\" \nEnquiries\n \n\n\n\nEssentra plc\nJoanna Speed, Investor Relations Director\nLucy Yank, Group Communications Director\nTel: +44 (0)1908 359100\n\n\nTulchan Communications LLP\nMartin Robinson\nToby Bates\nGuy Bates\nTel: +44 (0)20 7353 4200\n\n\n\nNotes to Editors\nAbout Essentra plc\nEssentra plc is a FTSE 250 company and a leading global provider of essential components and solutions. Organised into four divisions from the start of 2018 - reflecting the Company's strategic review - Essentra focuses on the light manufacture and distribution of high volume, enabling components which serve customers in a wide...