ACQUISITION OF SECURIT WORLD LTD

RNS Number : 8616X

Filtrona plc

22 February 2012

 



For immediate release                                                                                                                                             22 February 2012

FILTRONA PLC

("Filtrona" or "the Company")

 A leading international supplier of speciality plastic, fibre and foam products

ACQUISITION OF SECURIT WORLD LTD

Filtrona plc today announces that it has acquired 100% of the share capital of Securit World Ltd ("Securit") from the Heyden family for a cash consideration of £6m, subject to customary adjustments.  Securit has been acquired on a debt-free basis, and the transaction was funded from the Company's existing facilities.

Securit distributes desktop personal identification ("ID") card systems, providing printers, software and associated accessories across a wide range of growing end-markets, including Trade Distribution, Education, Government, Health and General Industry.  The acquisition of UK-based Securit adds to the existing capabilities of Filtrona's Payne Security personal ID products business and provides new opportunities in adjacent attractive growth sectors, such as Access Control and Membership.

For the year ending April 2012, Securit's current estimates indicate revenue in the region of £10.5m and EBITDA of c. £1.2m, and it will be reported under Filtrona's Coated & Security Products division.  The transaction will be immediately earnings enhancing to the Company.

Commenting on the acquisition, Colin Day, Chief Executive, said:

"The acquisition of Securit is a further example of the value-adding transactions available to Filtrona across its four operating divisions, to complement the Company's Vision 2015 strategy of balanced organic growth.  Securit has a proven track record of success and is a strong strategic fit with Payne Security, not only increasing our scale and presence in existing sectors but also accelerating our development into new and growing end-markets." 

Enquiries

Filtrona plc Joanna Speed, Corporate Affairs Director Tel: [phone]

Buchanan Richard Oldworth Jeremy Garcia Catherine Breen Tel: [phone]

Notes to Editors 

Filtrona plc is a leading international supplier of speciality plastic, fibre and foam products. Further information can be found on the website www.filtrona.com.

Protection & Finishing Products

A global market leading supplier of protection and finishing products, manufacturing and distributing plastic injection moulded, vinyl dip moulded, and metal items as well as pressure sensitive tapes. The division has 60 operating units in 21 countries serving a very broad industrial base of customers with a rapid supply of primarily plastic products for protection and finishing applications in industries such as hydraulics, pneumatics, oil and gas, electrical controls, point of purchase and tubular metal products.

Porous Technologies

A global market leading developer and manufacturer of custom fluid handling components, engineered from a portfolio of technologies that includes bonded fibre, polyurethane foam, and porous plastic.  Representing leading innovations used in healthcare, consumer and industrial applications, its enabling components are found in a wide range of products from medical diagnostics tests to advanced wound care pads, inkjet printer cartridges, writing instruments and air fresheners.  Customers in 56 countries are served from 4 manufacturing facilities with research and development centres supporting the division globally.

Coated & Security Products

The global market leading producer of high quality self-adhesive tear tape and a growing supplier of labels, products and technologies for the consumer packaging, identity and valuable documents markets. Customers in over 100 countries are served from facilities operating in six countries. The division also includes plastic profile extrusion activities in The Netherlands.

Filter Products

The only global independent cigarette filter supplier.  The nine worldwide locations, including a UK-based research facility and three regional development centres which provide a flexible infrastructure strategically positioned to serve the tobacco industry.  The division supplies a wide range of value adding high quality innovative filters, packaging solutions to the roll your own sector and analytical laboratory services for ingredient measurement for the industry.

 

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