Ansell acquires protective clothing producer Microgard
April 24, 2015 - Australia
Australia based Ansell Limited said it has reached an agreement to acquire Microgard Ltd., a UK based protective clothing manufacturer for £59 million.
According to an Ansell press release, the deal amount 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.
Microgard markets in over 75 countries and also has a world class manufacturing facility in Xiamen, China.
Microgard has grown rapidly, primarily in EMEA and APAC, with sales of approximately US $40 million in 2014 and has 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,” said Magnus Nicolin, CEO at Ansell.
“Microgard’s innovative range of chemical clothing complements our previous acquisitions, including Trelleborg Protective Products and Barriersafe Solutions International,” Nicolin added.
“Together with our chemical protective glove range, we now have a world-class portfolio of chemical protection solutions, leveraging our strong global footprint,” he observed.
“We are pleased that Microgard is joining forces with Ansell, the recognised world leader in protection solutions,” Graham Stonehouse, Microgard founder said.
“Ansell’s global reach, commitment to quality, and record of innovation will deliver immediate value to our business, our people, and our partners,” he too added by saying.
Ansell expects the acquisition, including all transaction costs, to be marginally dilutive to EPS in fiscal year 2014-15 and accretive in 2015-16. (AR)
According to an Ansell press release, the deal amount 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.
Microgard markets in over 75 countries and also has a world class manufacturing facility in Xiamen, China.
Microgard has grown rapidly, primarily in EMEA and APAC, with sales of approximately US $40 million in 2014 and has 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,” said Magnus Nicolin, CEO at Ansell.
“Microgard’s innovative range of chemical clothing complements our previous acquisitions, including Trelleborg Protective Products and Barriersafe Solutions International,” Nicolin added.
“Together with our chemical protective glove range, we now have a world-class portfolio of chemical protection solutions, leveraging our strong global footprint,” he observed.
“We are pleased that Microgard is joining forces with Ansell, the recognised world leader in protection solutions,” Graham Stonehouse, Microgard founder said.
“Ansell’s global reach, commitment to quality, and record of innovation will deliver immediate value to our business, our people, and our partners,” he too added by saying.
Ansell expects the acquisition, including all transaction costs, to be marginally dilutive to EPS in fiscal year 2014-15 and accretive in 2015-16. (AR)