REG - Porvair PLC - Acquisition completion

PorvairAnnouncement

17/07/2023 07:00

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RNS Number : 1049G  Porvair PLC  17 July 2023

FOR IMMEDIATE
RELEASE
17 July 2023

 

 

Porvair plc

("Porvair" or the "Group" or the "Company")

 

Acquisition completion

 

Porvair plc ("Porvair" or the "Group"), the specialist filtration, laboratory
and environmental technology group, announces that on 14 July 2023 it
completed its acquisition of 100% of the issued share capital of two
businesses, Ratiolab GmbH and Ratiolab Kft. (together "Ratiolab"), following
receipt of Hungarian regulatory approval.

 

As previously announced, Ratiolab GmbH, located outside Frankfurt, sells a
wide range of laboratory consumables in Europe and the Middle East. Ratiolab
Kft., located close to Budapest, manufactures laboratory consumables in an
8,000m(2) facility, the freehold of which is included in the acquisition.
Ratiolab has annual external revenues of around €12 million. The transaction
is expected to be earnings neutral (after acquisition costs) in 2023, and
earnings enhancing thereafter.

 

The Board believes Ratiolab will fit well into the Group's Laboratory
division, offering a complementary product range and adding European
manufacturing capabilities, injection moulding expertise, and routes to
market.

 

For further information, please contact:

 

 Porvair plc                                  01553 765 500
 Ben Stocks, Group Chief Executive

 James Mills, Group Finance Director

 Buchanan Communications                      0207 466 5000
 Charles Ryland / Simon Compton / Jack Devoy

 

Notes to Editors

Porvair is a group of specialist filtration, laboratory and environmental
technology businesses.  Its businesses design and manufacture a range of
bespoke consumable filtration products that are used in a range of niche
filtration markets.  It operates in three divisions: Aerospace &
Industrial; Laboratory; and Metal Melt Quality.

 

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