Business
Acquisition completion
Acquisition completion.
About this update from Porvair Plc
[{"type":"text","content":"\n\nFOR IMMEDIATE RELEASE 17 July 2023\n \n\n \nPorvair plc\n(\"Porvair\" or the \"Group\" or the \"Company\")\n \nAcquisition completion\n \nPorvair plc (\"Porvair\" or the \"Group\"), the specialist filtration, laboratory and environmental technology group, announces that on 14 July 2023 it completed its acquisition of 100% of the issued share capital of two businesses, Ratiolab GmbH and Ratiolab Kft. (together \"Ratiolab\"), following receipt of Hungarian regulatory approval.\n \nAs previously announced, Ratiolab GmbH, located outside Frankfurt, sells a wide range of laboratory consumables in Europe and the Middle East. Ratiolab Kft., located close to Budapest, manufactures laboratory consumables in an 8,000m2 facility, the freehold of which is included in the acquisition. Ratiolab has annual external revenues of around €12 million. The transaction is expected to be earnings neutral (after acquisition costs) in 2023, and earnings enhancing thereafter.\n \nThe Board believes Ratiolab will fit well into the Group's Laboratory division, offering a complementary product range and adding European manufacturing capabilities, injection moulding expertise, and routes to market.\n \nFor further information, please contact:\n \n\n\n\nPorvair plc\n\n\n01553 765 500\n\n\n\n\nBen Stocks, Group Chief Executive\nJames Mills, Group Finance Director\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBuchanan Communications\n\n\n0207 466 5000\n\n\n\n\nCharles Ryland / Simon Compton / Jack Devoy\n\n\n\n\n\n\n \nNotes to Editors\nPorvair is a group of specialist filtration, laboratory and environmental technology businesses. Its businesses design and manufacture a range of bespoke consumable filtration products that are used in a range of niche filtration markets. It operates in three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Qualit...