AI assistant
ANSELL LIMITED — M&A Activity 2015
Mar 30, 2015
64385_rns_2015-03-30_19b68227-5a83-44d3-b2cf-77e67450b403.pdf
M&A Activity
Open in viewerOpens in your device viewer
ASX Announcement
==> picture [130 x 53] intentionally omitted <==
ANSELL LIMITED TO ACQUIRE PROTECTIVE CLOTHING MANUFACTURER MICROGARD
31 March 2015 – Melbourne/Brussels - Ansell Limited (ASX:ANN), a global leader in protection solutions, today announces that it has reached an agreement to acquire Microgard Ltd., a protective clothing manufacturer with headquarters in the United Kingdom, for a total consideration of GBP 59M (approximately US$88M*), subject to usual closing adjustments. This is equivalent to a multiple of approximately nine times on trailing 12 months adjusted EBITDA.
Founded in 1975, Microgard is a leading manufacturer and supplier of chemical protective clothing with a strong track record of introducing new technology and designs to the market to improve wearer protection and comfort. They have sales in over 75 countries and a world class manufacturing facility in Xiamen, China. Microgard has grown rapidly, primarily in EMEA and APAC, with sales of approximately USD $40 million in calendar year 2014 and 750 employees worldwide.
The agreement, which is subject to German anti-trust clearance and customary closing conditions, is expected to complete during the second quarter of calendar year 2015.
"This acquisition is another critical step in building the Ansell body protection business as part of the Industrial Global Business Unit,” says Magnus Nicolin, Chief Executive Officer and Managing Director at Ansell. “Microgard’s innovative range of chemical clothing for Industrial, Chemical, Oil & Gas, and Life Science customers complements our previous acquisitions, including Trellchem[® ] high-end chemical protective clothing from Trelleborg Protective Products, High Five[® ] entry-level disposable clothing and Onguard[® ] chemical protective footwear from Barriersafe Solutions International. Together with our current chemical protective glove range, we now have a world-class portfolio of chemical protection solutions, leveraging our strong global footprint and Ansell Guardian[™] solution selling capabilities to help customers improve protection and productivity in a wide-range of end user verticals.”
“We are pleased that Microgard is joining forces with Ansell, the recognized world leader in protection solutions,” says Graham Stonehouse, Microgard Founder and Chairman. “Ansell’s global reach, commitment to quality, and record of innovation will deliver immediate value to our business, our people, and our partners.”
Ansell expects the acquisition, including all transaction costs, to be marginally dilutive to EPS in F15, and accretive in F16.
* GBP/USD at 1.49
ENDS
========================================================================
For further information:
Investors & Analysts Australia David Graham, I.R. Tel: +(61) 3 9270 7215 / +(61) 4011 40749 [email protected] US Neil Salmon, CFO Tel: +(1) 732 345 5359 [email protected] Media Australia Andrew Stokes, FTI Consulting Tel: +(61) 2 8298 6114/ +(61) 416 967 038 [email protected] US Frank Mantero, Communications Tel: +(1) 732 345 2128 [email protected]
About Ansell
Ansell is a world leader in providing superior health and safety protection solutions that enhance human well-being. With operations
ASX
Announcement
==> picture [130 x 53] intentionally omitted <==
in North America, Latin America/Caribbean, EMEA and Asia, Ansell employs more than 14,000 people worldwide and holds leading positions in the personal protective equipment and medical gloves market, as well as in the sexual health and well-being category worldwide. Ansell operates in four main business segments: Medical, Industrial, Single Use and Sexual Wellness. Information on Ansell and its products can be found at www.ansell.com.
==> picture [276 x 27] intentionally omitted <==
® and ™ are trademarks owned by Ansell Limited or one of its affiliates. © 2015 Ansell Limited. All Rights Reserved.