Brief: Troax buys Folding Guard in $25.8 million deal
15/12/2016 07:00
Dec 15 (Reuters) - Troax Group AB (publ) TROAX.ST
* Buys via subsidiary, Troax Inc., Folding Guard, a division within Leggett & Platt US
LEG.N
* Closing of transaction is set to end of December 2016
* Purchase price amounts to $25.8 million
* Second payment of maximum $2.2 million may be paid, if 12 month rolling EBITDA, as
calculated in June 2017, exceeds $3.225 million
* Initial purchase price is financed by existing cash of about $4.9 million and via tap
issue of $20.9 million under co's existing bond loan
* Co's net debt to EBITDA is seen to amount to 2.5 immediately following completion of deal
* Deal is seen to have immediate positive impact on Troax Group's earnings per share
* Folding Guard is American manufacturer of indoor perimeter protection solutions
Source text for Eikon: ID:nWkrlm9693
Further company coverage: TROAX.ST
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