Brief: Inwido Makes Its Largest Acquisition To Date As Scottish Sidey Group Becomes Part Of The Group

Inwido AB (publ)

13/07/2023 20:58

July 13 (Reuters) - Inwido  INWI.ST :
    * MAKES ITS LARGEST ACQUISITION TO DATE AS SCOTTISH SIDEY
GROUP
BECOMES PART OF THE GROUP
    * IN LAST 12 MONTH PERIOD, SIDEY GROUP HAD SALES OF
APPROXIMATELY
SEK 800 MILLION, AND AN EBIT MARGIN OF APPROXIMATELY 15%
    * ACQUISITION IS FINANCED THROUGH AVAILABLE CASH, AND WILL
HAVE A
POSITIVE IMPACT ON INWIDO'S EARNINGS PER SHARE IN 2023
    * INWIDO ACQUIRES, IN FIRST STEP, 70% OF SHARES AT A
MULTIPLE JUST
BELOW 6 TIMES OPERATING EBIT IN LAST TWELVE-MONTH PERIOD
    * OWNERS, CONSISTING OF MAJORITY OWNERS CHARLES ARBUTHNOTT
AND
MICHAEL DOBSON AND MANAGEMENT TEAM, WILL RETAIN 30 PER CENT OF
SHARES
    * SAYS SEE OPPORTUNITIES FOR SYNERGIES THROUGH JOINT
PURCHASING,
INSOURCING OF PRODUCTION AND OTHER COLLABORATIONS WITHIN INWIDO
GROUP
    * PURCHASE PRICE FOR REMAINING SHARES WILL BE BASED ON
FUTURE
FINANCIAL DEVELOPMENT OF SIDEY GROUP
    * CO WILL BECOME PART OF BUSINESS AREA WESTERN EUROPE
ALONGSIDE
ALLAN BROTHERS, CARLSON, CWG CHOICES, DEKKO, JACK BRUNSDON

Source text for Eikon: nWkr3R5MTL
Further company coverage:  INWI.ST 

 ((Reuters.Briefs@thomsonreuters.com;))