REG - Essentra plc - Completion of BMP TAPPI acquisition

EssentraAnnouncement

26/10/2023 10:30

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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 Manager  essentra@teneo.com

 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
(http://www.essentraplc.com)

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