Acquisition of Air Handling Business

RNS Number : 2796L

SIG PLC

03 July 2014

 



SIG plc

("SIG" or "the Group")

Acquisition of Air Handling Business

SIG 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.

The consideration for the acquisition comprises:

(i)   An up-front cash payment of €4.7m

(ii)  deferred cash consideration of €0.7m payable in January 2016; and

(iii) earn-out cash consideration of up to €2.0m dependent on the performance of the business over the period to 31 December 2016;

For 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. 

This 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. 

Inatherm 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.

Enquiries

Stuart Mitchell, Chief Executive Doug Robertson, Finance Director Simon Bielecki, Head of Investor Relations	SIG plc	0114 285 6300 07515 794359
Richard Mountain / Nick Hasell	FTI Consulting	020 3727 1340

 

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