Porvair Regulatory News (PRV)

FOR IMMEDIATE RELEASE 4 May 2023

Acquisitions

Porvair plc ("Porvair" or the "Group"), the specialist filtration, laboratory and environmental technology group, today announces that it will acquire, subject to Hungarian regulatory approval, 100% of the issued share capital of two businesses, Ratiolab GmbH and Ratiolab Kft. (together "Ratiolab"). Regulatory approval is expected to take around three months.

Ratiolab GmbH, located outside Frankfurt, sells a wide range of laboratory consumables in Europe and the Middle East. Ratiolab Kft., located close to Budapest, manufactures laboratory consumables in an 8,000m2 facility, the freehold of which is included in the acquisition. Ratiolab has annual external revenues of around €12 million. The transaction is expected to be earnings neutral (after acquisition costs) in the balance of 2023, and earnings enhancing thereafter.

The Board believes Ratiolab will fit well into the Group's Laboratory division, offering a complementary product range and adding European manufacturing capabilities, injection moulding expertise, and routes to market. 

Separately, Porvair announces that on 3 March 2023, it acquired the business and assets of HRW Inc., a small engineering operation based in Nampa, Idaho. HRW is a key supplier to the Porvair Filtration Group's microelectronics filtration facility in Idaho. The acquisition expands machining and product design skills to that location.

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Notes to Editors

Porvair is a group of specialist filtration, laboratory and environmental technology businesses. Its businesses design and manufacture a range of bespoke consumable filtration products that are used in a range of niche filtration markets. It operates in three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Quality.