REG - Porvair PLC - Acquisitions

PorvairAnnouncement

04/05/2023 07:00

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RNS Number : 3279Y  Porvair PLC  04 May 2023

 

FOR IMMEDIATE
RELEASE
            4 May 2023

 

 

 

Acquisitions

 

Porvair plc ("Porvair" or the "Group"), the specialist filtration, laboratory
and environmental technology group, today announces that it will acquire,
subject to Hungarian regulatory approval, 100% of the issued share capital of
two businesses, Ratiolab GmbH and Ratiolab Kft. (together "Ratiolab").
Regulatory approval is expected to take around three months.

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 the balance of 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.

Separately, Porvair announces that on 3 March 2023, it acquired the business
and assets of HRW Inc., a small engineering operation based in Nampa, Idaho.
HRW is a key supplier to the Porvair Filtration Group's microelectronics
filtration facility in Idaho. The acquisition expands machining and product
design skills to that location.

 

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 / Harry Swinburne

 

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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