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SURTECO GROUP SE / Key word(s): Mergers & Acquisitions Buttenwiesen, 13 December 2022 – SURTECO GROUP SE, via its subsidiary SURTECO North America Inc., USA, acquires the "Laminates and performance films and coated fabrics" business from Synthomer plc´s subsidiary, Omnova Solutions Inc., USA. A respective purchase agreement was signed today. The completion of the Transaction is subject to customary closing conditions including regulatory approval. The closing is also subject to Synthomer plc´s shareholders´ approval. The business units specialize in the production and sale of laminates, foils and vinyl-coated fabrics and employ a total of around 880 people at locations in the USA and Thailand. Sales in 2021 were USD 254 million and earnings before interest, taxes, depreciation and amortization (EBITDA) were USD 32 million. The total purchase price amounts to USD 255 million. SURTECO is financing the transaction via bridge financing. The SURTECO Group (2021: sales € 757.1 million; EBIT € 72.5 million; approx. 3,100 employees) wants to strengthen its market presence in the USA and in Asia, as well as expand the product portfolio with the takeover of these business areas.
Contact: Martin Miller Investor Relations ir@surteco-group.com +49 (0)8274 9988-508
13-Dec-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | SURTECO GROUP SE |
| Johan-Viktor-Bausch-Str. 2 | |
| 86647 Buttenwiesen | |
| Germany | |
| Phone: | +49 (0)8274 99 88-0 |
| Fax: | +49 (0)8274 99 88-5 05 |
| E-mail: | ir@surteco-group.com |
| Internet: | www.surteco-group.com |
| ISIN: | DE0005176903 |
| WKN: | 517 690 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1509485 |
| End of Announcement | EQS News Service |