Business
Acquisitions
Acquisitions.
About this update from Porvair Plc
[{"type":"text","content":"\n\n \nFOR IMMEDIATE RELEASE 4 May 2023\n \n\n \n \nAcquisitions\n \nPorvair plc (\"Porvair\" or the \"Group\"), the specialist filtration, laboratory and environmental technology group, today announces that it will acquire, subject to Hungarian regulatory approval, 100% of the issued share capital of two businesses, Ratiolab GmbH and Ratiolab Kft. (together \"Ratiolab\"). Regulatory approval is expected to take around three months.\nRatiolab 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 the balance of 2023, and earnings enhancing thereafter.\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. \nSeparately, Porvair announces that on 3 March 2023, it acquired the business and assets of HRW Inc., a small engineering operation based in Nampa, Idaho. HRW is a key supplier to the Porvair Filtration Group's microelectronics filtration facility in Idaho. The acquisition expands machining and product design skills to that location.\n \nFor further information, please contact:\n \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 / Harry Swinburne\n\n\n\n\n\n\n\n&n...