Diploma PLC Acquisition (7963D)
12 October 2018 - 5:00PM
UK Regulatory
TIDMDPLM
RNS Number : 7963D
Diploma PLC
12 October 2018
DIPLOMA PLC
12 CHARTERHOUSE SQUARE, LONDON EC1M 6AX
TELEPHONE: +44 (0)20 7549 5700
FACSIMILE: +44 (0)20 7549 5715
FOR IMMEDIATE RELEASE
12 October 2018
DIPLOMA PLC
ACQUISITION OF GREMTEK GROUP
Diploma PLC, the international group of businesses supplying
specialised technical products and services, is pleased to announce
the acquisition of Actios SAS, the parent company of the Gremtek
Group ("Gremtek") of companies, for an undisclosed consideration.
Gremtek is a long established and leading supplier of own branded
protective sleeving and cable identification products to a broad
range of industrial markets, principally in France, but also
in Germany and elsewhere in Europe. Gremtek's principal location
is in Gennevilliers, Paris, France where it has 27 employees
and a further 10 employees are based at its facility in Quickborn,
Germany.
Gremtek's range of own brand products, supplied from a portfolio
of long-standing relationships, are used in harsh environments
and in complex applications that require a high degree of technical
knowledge and support. The business will be integrated into the
Interconnect group within the Controls Sector as part of the
strategy to develop a broader business across Europe, as well
as providing a complementary range of own brand products for
Interconnect's existing markets.
Prior to acquisition, Gremtek was privately owned by Mr Philippe
Oudot, Gremtek's President, and his close family members (the
"Sellers"). Mr Oudot will remain with the business until 31 December
2019 to ensure a smooth management transition.
In the year ended 31 December 2017, on a pro forma consolidated
basis, Gremtek generated sales of approximately EUR10.8m and
normalised operating profit of ca. EUR1.3m. The acquisition of
Gremtek will be immediately earnings enhancing.
Diploma PLC - +44 (0)20 7549 5700
John Nicholas, Executive Chairman
Nigel Lingwood, Group Finance Director
Tulchan Communications - +44 (0)20 7353 4200
David Allchurch
Martin Robinson
NOTE TO EDITORS:
Diploma PLC is an international group of businesses supplying
specialised technical products and services to the Life Sciences,
Seals and Controls industries.
Diploma's businesses are focussed on supplying essential products
and services which are funded by the customers' operating rather
than their capital budgets, providing recurring income and stable
revenue growth.
Our businesses then design their individual business models to
closely meet the requirements of their customers, offering a
blend of high quality customer service, deep technical support
and value adding activities. By supplying essential solutions,
not just products, we build strong long term relationships with
our customers and suppliers, which support attractive and sustainable
margins.
Finally we encourage an entrepreneurial culture in our businesses
through our decentralised management structure. We want our managers
to feel that they have the freedom to run their own businesses,
while being able to draw on the support and resources of a larger
group. These essential values ensure that decisions are made
close to the customer and that the businesses are agile and responsive
to changes in the market and the competitive environment.
The Group employs ca. 1,700 employees and its principal operating
businesses are located in the UK, Northern Europe, North America
and Australia.
Over the last ten years, the Group has grown adjusted earnings
per share at an average of ca. 14% p.a. through a combination
of underlying growth and acquisitions. Diploma is a member of
the FTSE 250 with a market capitalisation of ca. GBP1.4bn.
Further information on Diploma PLC, together with a copy of this
Announcement, is available at www.diplomaplc.com
LEI: 2138008OG17VYG8FGR19
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END
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