Filtrona Plc Acquires Ulinco Components AB
FIltrona plc ("Filtrona" or "the Company") today announces that it has acquired 100% of the share capital of Ulinco Components AB ("Ulinco Components") from Ulinco Invest Aktiebolag for an undisclosed cash consideration funded from the Company's existing facilities.
Based in Sweden, Ulinco Components is a leading distributor of plastic protection and finishing products, hardware and specialist masking solutions in the Nordic region, and will be reported under the Component & Protection Solutions division. The acquisition of Ulinco Components not only expands the product range and customer base of the Component Distribution businesses, but also reinforces and extends their geographic presence in Scandinavia. For the financial year 2012, Ulinco Components generated revenue of c. £5m, and the transaction will be immediately earnings enhancing to the Company.
Commenting on the acquisition, Colin Day, Chief Executive, said:
"The acquisition of Ulinco Components is a further indication of the way in which Filtrona is able to augment its balanced organic growth with value-adding transactions. With its complementary product range and strong service ethos, Ulinco Components is an excellent strategic fit with our Component Distribution businesses and enhances our position in the sizeable Scandinavian market."