Porvair buys German molten metal specialist Drache for EUR20.5 million

(Alliance News) - Porvair PLC on Monday said it has agreed to buy German molten metal filtration specialist Drache Umwelttechnik GmbH for EUR20.5 million in cash.

The Norfolk, England-based environmental and specialist filtration technology firm said Diez, Germany-based Drache develops, manufactures and distributes filters, consumables and equipment for the molten metal industry and is a "leading supplier" to the aluminium filtration market.

Drache will join Porvair's Metal Melt Quality division under its existing management team.

Porvair said Drache will further strengthen its aluminium offering, following the previously announced GBP5.5 million investment to update and expand the cast house capabilities in Hendersonville, US.

The EUR20.5 million consideration is on a cash free, debt free basis and will be funded from Porvair's existing cash reserves and banking facilities.

The consideration includes around EUR4 million for two freehold operation sites in Diez, Germany.

In 2025, Drache's revenue was around EUR20 million. Porvair expects the acquisition to be earnings enhancing in the 12 months to the end of November.

Porvair said it will have a "modest" net cash position after the acquisition completes later on Monday.

"We have known the business for many years, and it is a strong strategic fit with our Metal Melt Quality division, bringing an extended geographical reach to the division's existing businesses in the US and China; an enhanced product portfolio in the growing global aluminium market; and additional manufacturing flexibility," said Porvair Chief Executive Hooman Caman Javvi.

Shares in Porvair were up 4.2% at 877.69 pence on Monday morning in London.

By Michael Hennessey, Alliance News reporter

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