Spectris PLC DIVESTMENT OF EMS BR L & KJ (1387A)
January 17 2020 - 1:00AM
UK Regulatory
TIDMSXS
RNS Number : 1387A
Spectris PLC
17 January 2020
SPECTRIS PLC
DIVESTMENT OF EMS Brüel & Kjær
17 January 2020 - Spectris plc ('Spectris') (LSE: SXS), the
productivity-enhancing instrumentation and controls company, today
announces that, together with Macquarie Corporate Holdings Pty
Limited ('Macquarie'), it has agreed to divest the EMS Brüel &
Kjær joint venture ('EMS B&K') to Envirosuite Limited
('Envirosuite'). Envirosuite is an environmental management
technology company and is listed on the Australian Securities
Exchange.
EMS B&K is a global provider of environmental monitoring
services to airports, cities, mines and construction companies. It
is jointly majority owned by Spectris and Macquarie (with equal 45%
shareholding interests), with management holding the remaining
minority interest. All issued shareholding interests in EMS B&K
will be sold to Envirosuite under the terms of the transaction. For
its share, Spectris will receive AUD35 million cash, less repayment
of EMS B&K's debt facility on completion, and 10 million shares
in Envirosuite.
The transaction is conditional only on approval by Envirosuite's
shareholders at a meeting to be held in late February 2020 and the
conditional placement of shares by Envirosuite required to fund the
consideration for the transaction, with completion expected to take
place shortly thereafter.
The sale of Spectris' interest in EMS B&K is another step in
simplifying the Group's portfolio. Envirosuite provides a range of
environmental monitoring services and the addition of EMS B&K
complements and expands their solution-as-a-service offering.
For and on behalf of Spectris plc
LEI Number: 213800Z4CO2CZO3M3T10
Contacts:
Spectris plc
Siobhán Andrews, Head of Corporate Affairs +44 1784 485325
FTI Consulting
Richard Mountain / Susanne Yule +44 203 727 1374
NOTES TO EDITORS
About Envirosuite
Envirosuite Limited is an environmental management technology
company that has developed a leading solution-as-a-service offering
which translates data into action in real-time.
Using proprietary algorithms built on more than 30 years of
environmental consulting experience, the Envirosuite platform
provides a range of environmental monitoring, management and
investigative capabilities.
The Envirosuite platform is used worldwide by a range of clients
in the mining, water and waste management, heavy industry, ports
and agricultural industry sectors and as well by governments
looking to regulate industry in accordance with community
well-being.
ABOUT SPECTRIS
Spectris plc is a leading supplier of productivity-enhancing
instrumentation and controls. The Company's products, technologies
and services help customers to improve product quality and
performance, improve core manufacturing processes, reduce downtime
and wastage and reduce time to market. Its global customer base
spans a diverse range of end-user markets. Headquartered in Egham,
Surrey, United Kingdom, the Company employs approximately 9,000
people located in more than 30 countries.
For more information, visit www.spectris.com.
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END
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