Brief: Lindab Acquires Airmaster

Lindab International AB

19/01/2024 11:16

Jan 19 (Reuters) - Lindab International AB  LIAB.ST :
    * LINDAB ACQUIRES AIRMASTER AND ESTABLISHES A NEW PRODUCT
AREA FOR
DECENTRALISED VENTILATION
    * CLOSING IS EXPECTED DURING Q1 OF 2024
    * ACQUIRES 100 PERCENT OF COMPANY, ON A CASH AND DEBT FREE
BASIS,
FOR A FIXED PURCHASE PRICE OF 650 MDKK (990 MSEK)
    * AN EARN-OUT CONSIDERATION WILL BE PAID IF AIRMASTER
REACHES
AMBITIOUS EARNINGS TARGETS FOR 2024 AND 2025
    * EARN-OUT CAN AMOUNT TO A MAXIMUM OF 400 MDKK (610 MSEK)
AND WILL
BE SETTLED IN 2026
    * WITH ACQUISITION, CO ESTABLISHES NEW PRODUCT AREA, WITH
AMBITION
THAT DECENTRALISED VENTILATION WILL REACH SALES OF SEK 2 BILLION
BY 2027
    * AIRMASTER HAD SALES OF 356 MDKK IN 2022 WITH AN OPERATING
MARGIN
OF 18 PERCENT

Source text for Eikon:  ID:nWkr7YHNYQ 
Further company coverage:  LIAB.ST 

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