Latham(James) PLC Acquisition (4332U)
25 Novembre 2019 - 08:00AM
UK Regulatory
TIDMLTHM
RNS Number : 4332U
Latham(James) PLC
25 November 2019
James Latham plc
("James Latham" or "the Company")
Acquisition
James Latham is pleased to announce that it has acquired the
entire issued share capital of Dresser Mouldings (Rochdale) Limited
("Dresser"), a specialised processor of timber and cladding
products.
The Company has acquired Dresser for GBP1 million. The
consideration will be satisfied in cash from the Company's existing
resources. For the year ended 31 December 2018, the turnover of
Dresser was GBP2.3 million and EBITDA was GBP276k.
Founded in 2009, Dresser specialises in the processing and
vacuum coating of bespoke timber products, the production of timber
mouldings and other specialist timber machining for use in a
variety of market segments. Dresser operates from its site in
Rochdale and via an online store.
Commenting on the acquisition, Nick Latham, Chairman of James
Latham, said "We are delighted to have acquired Dresser which will
allow us to increase our offering in processed timber. We have
worked together with Dresser for many years on some fantastic
projects producing innovative solutions for architects. We have
first-hand experience of the quality of their work and the in-depth
knowledge of the staff at Dressers which is necessary for
delivering these complicated projects. We see a great opportunity
to further grow and develop our products in this area. We look
forward to working with the Dresser team and welcome them to the
Latham family."
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014.
For further information please visit www.lathams.co.uk or
contact:
James Latham plc Tel: 01442 849 100
Nick Latham, Chairman
David Dunmow, Finance Director
SP Angel Corporate Finance LLP
Matthew Johnson / Charlie Bouverat (Corporate Tel: 0203 470 0470
Finance)
Abigail Wayne (Corporate Broking)
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END
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