(Alliance News) - FTSE 250-listed plastic and fibre products maker Essentra PLC said Thursday it acquired Innovative Components Inc and Componentes Innovadores Ltd for an undisclosed sum.
"As a leading provider of knobs, pins and handles, Innovative Components both strengthens and extends our product range while adding further valuable manufacturing capacity in the Americas," Essentra Chief Executive Officer Paul Forman said.
"Innovative Components is a strong strategic fit with our own successful hardware business and another example of the attractive acquisition opportunities available to our Components division," Forman added. "As the last few months has demonstrated, we are continuing to combine the successful stabilisation of our businesses to generate stable organic growth with the active management of our portfolio."
In 2018, Innovative Components generated USD11 million in revenue and Essentra expects the acquisition to be immediately earnings enhancing. Essentra will pay for the purchase using existing debt facilities.
Shares in Essentra were 0.1% higher at 421.00 pence in London on Thursday.


Essentra PLC - Oxford, England-based manufacturer and distributor of plastic-injection-moulded, vinyl-dip-moulded and metal components - Completes its...


Essentra PLC - Oxford, England-based manufacturer and distributor of plastic-injection-moulded, vinyl-dip-moulded and metal components - Hires Sharmil...


(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and on Monday:


(Sharecast News) - Essentra revealed on Thursday that chairman designate Steve Good had acquired 70,000 ordinary shares in the FTSE 250-listed essenti...


Essentra PLC - Oxford, England-based components company - Chair Designate & Non-Executive Director Steve Good acquires 70,000 shares at 142.6 pence on...


(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday:


(Alliance News) - London's FTSE 100 climbed on Tuesday as hopes grew for a jumbo-sized interest rate cut across the pond, and data showed the US econo...


(Sharecast News) - London stocks closed higher on Tuesday as investors focused on the start of the US Federal Reserve's two-day policy meeting, where ...


(Alliance News) - Stock prices in Europe were solidly higher on Tuesday, with the growing belief that the Federal Reserve will enact a 50 basis point ...