Business
Acquisition of Air Handling Business
Acquisition of Air Handling Business.
About this update from Sig Plc
[{"type":"text","content":"\n \nRNS Number : 2796L SIG PLC 03 July 2014 \n \n\n \nSIG plc\n(\"SIG\" or \"the Group\")\n \nAcquisition of Air Handling Business\n \nSIG plc, a leading distributor of specialist building products in Europe, today announces that it has acquired Inatherm BV, a specialist distributor of air handling products based in the Netherlands.\nThe consideration for the acquisition comprises:\n(i) An up-front cash payment of €4.7m\n(ii) deferred cash consideration of €0.7m payable in January 2016; and\n(iii) earn-out cash consideration of up to €2.0m dependent on the performance of the business over the period to 31 December 2016;\nFor the financial year ended 31 December 2013 Inatherm BV made a profit before tax of €0.6m. Gross assets were €1.8m as at 31 December 2013. \n \nThis infill acquisition further strengthens the Group's position in the Mainland European air handling market, where it already has a significant presence through Air Trade Centre and Ouest Ventil. \n \nInatherm BV is being sold by Triple R Holding, which is owned by the current management team who will remain with the business and join SIG.\n \n \nEnquiries\n \n\n\n\n\nStuart Mitchell, Chief Executive\nDoug Robertson, Finance Director\nSimon Bielecki, Head of Investor Relations\n \n\n\nSIG plc\n\n\n0114 285 6300\n \n07515 794359\n\n\n\n\nRichard Mountain / Nick Hasell\n\n\nFTI Consulting\n\n\n020 3727 1340\n \n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQSSAFIEFLSELW\n ","length":3494,"tagName":"div"}]