2 Nov 2015 07:00
2 November 2015
Hayward Tyler Group plc
("Hayward Tyler", the "Company" or "Group")
Completion of acquisition
Further to the announcement of 12 October 2015, the directors of Hayward Tyler Group plc (AIM: HAYT.L), the specialist engineering group, are pleased to announce the completion of the acquisition of the trade and assets of the Peter Brotherhood business from Dresser-Rand Company Ltd, a Siemens-owned business, for a total consideration of US$15 million, subject to an adjustment for a working capital benchmark. The acquisition was conditional only on the completion of the TUPE process, now concluded, relating to the 145 employees based at the Peterborough facility who are to join the newly formed Peter Brotherhood Ltd, a wholly-owned subsidiary of Hayward Tyler Group.
Enquiries:
Hayward Tyler Group plc Ewan Lloyd-Baker, Chief Executive Officer Nicholas Flanagan, Chief Financial Officer
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Tel: +44 (0)1582 731144 |
Akur Limited - Corporate Finance Adviser David Shapton Tom Morrell
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Tel: +44 (0)20 7493 3631 |
FinnCap Limited - NOMAD & Broker Matt Goode - Corporate Finance Grant Bergman - Corporate Finance Tony Quirke - Corporate Broking
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Tel: +44 (0)20 7220 0500
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GTH Communications Limited Toby Hall
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Tel: +44 (0)7713 341072
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About Hayward Tyler Group plc
Hayward Tyler Group plc is a market leader in the design, manufacture and servicing of performance-critical motors and pumps for the harshest of environments. Core markets for the group include: oil & gas exploration - both topside and subsea; power generation - both conventional and nuclear; and the chemical/industrials sector. With facilities in the UK, US, China and India, the Group has a proven reputation for providing innovative, reliable technological solutions built on a proud heritage stretching back over 200 years. www.haywardtyler.com