Last checked at 5 Sep 2019 07:00
For immediate release 5 September 2019
Porvair plc ("Porvair" or "The Group")
Acquisition of Dahlman Industrial Group B.V.
Porvair, the specialist filtration and environmental technologies group, is pleased to announce the acquisition of Dahlman Industrial Group B. V. ("Royal Dahlman"), a Dutch industrial filtration business, trading as Royal Dahlman, for a total cash consideration of €7.75 million.
The Group acquired 100 per cent of the share capital of Royal Dahlman, which reported revenue of €14.2 million in the year ended 31 December 2018.
Royal Dahlman is based in Maassluis and Elsloo and specialises in industrial filtration with particular expertise in petrochemical filtration engineering.
Royal Dahlman will continue to operate from its existing premises and will be integrated into the Group's Aerospace & Industrial division. It is expected to be earnings accretive following integration in 2020.
Commenting on the acquisition, Ben Stocks, Chief Executive, said:
Royal Dahlman brings engineering expertise in petrochemical emissions control applications where regulations are expected to tighten. It also has excellent routes to market in Benelux and Northern Europe for industrial filtration through which the combined business can offer a much wider product range. Royal Dahlman has a strong and experienced management team who will lead the Group's expansion in Europe.
Market Abuse Regime
The information contained within this announcement is deemed by Porvair to constitute inside information as stipulated under the Market Abuse Regulation. Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.
For more information, contact:
Porvair plc |
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Ben Stocks, Chief Executive | 01553 765 500 |
Chris Tyler, Group Finance Director | 01553 765 500 |
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Buchanan Communications | 0207 466 5000 |
Charles Ryland /Stephanie Watson |
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Notes to Editors
Porvair is a group of specialist filtration, separation and environmental technologies businesses. Its products are used in a range of niche filtration and separation markets, and are derived from its expertise in the design and manufacture of filtration and separation systems. It is organised into three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Quality.