Hill & Smith Hldgs PLC Acquisition (0481O)
30 September 2019 - 4:02PM
UK Regulatory
TIDMHILS
RNS Number : 0481O
Hill & Smith Hldgs PLC
30 September 2019
30 September 2019
Hill & Smith Holdings PLC
Acquisition of Parking Facilities Limited
Hill & Smith Holdings PLC ('Hill & Smith' or 'the
Group'), the international group with leading positions in the
supply of infrastructure products and galvanizing services to
global markets, today announces that it has completed the
acquisition of Parking Facilities Limited ("Parking Facilities")
for a cash consideration of GBP12.4m, on a debt and cash free basis
(the "Acquisition"). The consideration will be funded from the
Group's existing debt facilities.
Based in Tamworth, UK, Parking Facilities specialises in the
design, manufacture and supply of a market-leading range of parking
and access control products including cantilever, bi-fold and swing
gates, automatic and manual barriers, automatic bollards, rising
kerbs, speed ramps and access control equipment. Parking Facilities
also offers a bespoke service from design to manufacture, supplying
custom-built products to match existing surroundings.
In the year to 30 November 2018, Parking Facilities reported
revenue of GBP10.8m, underlying EBITDA of GBP2.1m and net operating
assets, on a debt and cash free basis, of GBP3.0m. The Acquisition
is expected to be earnings enhancing to the Group in the first full
financial year following completion.
Derek Muir, Group Chief Executive, commented: "Parking
Facilities has a wide range of high quality products that
complement our existing Hostile Vehicle Mitigation and related
security product offering, enabling us to provide comprehensive
perimeter security solutions to customers in both UK and
international markets."
- Ends -
Cautionary Statement
This announcement contains forward looking statements which are
made in good faith based on the information available at the time
of its approval. It is believed that the expectations reflected in
these statements are reasonable but they may be affected by a
number of risks and uncertainties that are inherent in any forward
looking statement which could cause actual results to differ
materially from those currently anticipated. Nothing in this
document should be regarded as a profits forecast nor should it be
taken to mean that earnings per share of Hill & Smith in the
year ending 31 December 2019, or in future years, will necessarily
match or exceed the Group's historical earnings per share.
For further information, please contact:
Hill & Smith Holdings PLC
Derek Muir, Chief Executive Tel: +44 (0)121 704 7430
Hannah Nichols, Chief Financial Officer
MHP Communications
Andrew Jaques/Ollie Hoare/Guy Featherstone Tel: +44 (0)20 3128
8100
Notes to Editors
Hill & Smith Holdings PLC is an international group with
leading positions in the design, manufacture and supply of
infrastructure products and galvanizing services to global markets.
It serves its customers from facilities principally in the UK,
France, USA, Sweden, Norway, India and Australia.
The Group's operations are organised into three main business
segments:
Infrastructure Products - Roads, supplying products and services
such as permanent and temporary road safety barriers, hostile
vehicle mitigation products, street lighting columns, bridge
parapets, temporary car parks and variable road messaging
solutions.
Infrastructure Products - Utilities, supplying products and
services such as pipe supports for the power and liquid natural gas
markets, energy grid components, composite "GRP" products,
industrial flooring, handrails, access covers and security
fencing.
Galvanizing Services which provides zinc and other coatings for
a wide range of products including fencing, lighting columns,
structural steel work, bridges, agricultural and other products for
the infrastructure and construction markets.
Headquartered in the UK and quoted on the London Stock Exchange
(LSE: HILS.L), Hill & Smith Holdings PLC employs some 4,400
staff, principally in 7 countries.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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