Essentra plc Completion of BMP TAPPI acquisition (4146R)
26 Ottobre 2023 - 11:26AM
UK Regulatory
TIDMESNT
RNS Number : 4146R
Essentra plc
26 October 2023
Essentra PLC
("Essentra" or the "Group")
Completion of BMP TAPPI acquisition
Further to the announcement on 21 September 2023, Essentra plc,
a leading global provider of essential components and solutions,
today announces the completion of the acquisition of BMP s.r.l
("BMP TAPPI"), following receipt of local government approval and
competition clearances.
Scott Fawcett, CEO of Essentra plc, commented:
"I am pleased to announce the completion of BMP TAPPI, which
represents our second bolt-on acquisition as a pure-play components
business. This acquisition will strengthen Essentra's product
portfolio, unlock further cross-selling opportunities, and will
enhance the Group's manufacturing footprint in Europe.
We have a strong balance sheet, and a clear bolt-on inorganic
growth strategy. BMP TAPPI is expected to be accretive to Group
margins and adjusted EPS in the first full year post-completion,
with a ROIC of c.15% expected to be delivered within three
years.
Acquisitions like Wixroyd Group, acquired in December 2022, and
BMP TAPPI are excellent examples of the businesses from which we
deliver attractive synergies and drive incremental value for
shareholders."
Enquiries
Essentra plc Teneo
Jack Clarke, Chief Financial Officer Olivia Peters
Claire Goodman, Investor Relations essentra@teneo.com
Manager
Emma Reid, Company Secretary
Tel: +44 (0)1908 359100 Tel: +44 (0)20 7353 4200
Notes to Editors
About Essentra plc
Essentra plc is a FTSE 250 company and a leading global provider
of essential components and solutions, focusing on the manufacture
and distribution of plastic injection moulded, vinyl dip moulded
and metal items.
Headquartered in the United Kingdom, Essentra's global network
extends to 28 countries worldwide and includes over 3,000
employees, 13 manufacturing facilities, 24 distribution centres and
33 sales & service centres serving c.74,000 customers with a
rapid supply of low cost but essential products for a variety of
applications in industries such as equipment manufacturing,
automotive, fabrication, electronics, medical and renewable
energy.
For further information, please visit www.essentraplc.com
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END
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