Tyman plc Acquires Giesse

Posted: 8th March 2016 07:56

Tyman plc, a leading international supplier of engineered components to the door and window industry, announces the acquisition of Giesse, an Italian based manufacturer of hardware for aluminium windows and doors.

The Acquisition represents a strategic opportunity to add a design led hardware offering to Schlegel, the Group's International Division, with presence in EMEAI and other markets.

The Acquisition is in line with the Group's strategy to develop and extend the Group's product portfolio through a combination of internal R&D and targeted acquisitions.

Highlights of the Acquisition

Financing of the Acquisition

Financial Effects of the Transaction*

* This financial effects statement should not be construed as a profit forecast or interpreted to mean that the future earnings per share, profits, margins, returns on capital or cashflows of the Group will necessarily be greater than the historic published figures or that Leverage will necessarily be lower than the historic
published figures.

Louis Eperjesi, Chief Executive of Tyman, commented:

"The acquisition of Giesse represents a strategic opportunity to add an initial hardware offering to our International Division, Schlegel, as we seek to expand the range of engineered components we can offer our customers in all regions.

"The Acquisition will be immediately accretive* to the Group's underlying earnings per share, will significantly strengthen the Group's existing business model and help deliver our growth objectives.

"Giesse offers an excellent fit with our business model and significantly broadens our coverage of the aluminium window and door market in Europe as well as giving Tyman local presence for the first time in a number of markets world-wide.

"Giesse brings established customer relationships and product development capabilities that will complement our existing businesses and positions Schlegel International to benefit from future market growth.

"On behalf of the Board I am pleased to welcome Giesse's management and employees to the Group."

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