Porvair PLC Acquisition completion (1049G)
July 17 2023 - 1:00AM
UK Regulatory
TIDMPRV
RNS Number : 1049G
Porvair PLC
17 July 2023
FOR IMMEDIATE RELEASE 17 July 2023
Porvair plc
("Porvair" or the "Group" or the "Company")
Acquisition completion
Porvair plc ("Porvair" or the "Group"), the specialist
filtration, laboratory and environmental technology group,
announces that on 14 July 2023 it completed its acquisition of 100%
of the issued share capital of two businesses, Ratiolab GmbH and
Ratiolab Kft. (together "Ratiolab"), following receipt of Hungarian
regulatory approval.
As previously announced, Ratiolab GmbH, located outside
Frankfurt, sells a wide range of laboratory consumables in Europe
and the Middle East. Ratiolab Kft., located close to Budapest,
manufactures laboratory consumables in an 8,000m(2) facility, the
freehold of which is included in the acquisition. Ratiolab has
annual external revenues of around EUR12 million. The transaction
is expected to be earnings neutral (after acquisition costs) in
2023, and earnings enhancing thereafter.
The Board believes Ratiolab will fit well into the Group's
Laboratory division, offering a complementary product range and
adding European manufacturing capabilities, injection moulding
expertise, and routes to market.
For further information, please contact:
Porvair plc 01553 765 500
Ben Stocks, Group Chief Executive
James Mills, Group Finance Director
Buchanan Communications 0207 466 5000
Charles Ryland / Simon Compton
/ Jack Devoy
Notes to Editors
Porvair is a group of specialist filtration, laboratory and
environmental technology businesses. Its businesses design and
manufacture a range of bespoke consumable filtration products that
are used in a range of niche filtration markets. It operates in
three divisions: Aerospace & Industrial; Laboratory; and Metal
Melt Quality.
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END
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July 17, 2023 02:00 ET (06:00 GMT)
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