3 Jul 2014 07:00

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SIG plc
("SIG" or "the Group")
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Acquisition of Air Handling Business
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SIG plc, a leading distributor of specialist building products in Europe, today announces that it has acquired Inatherm BV, a specialist distributor of air handling products based in the Netherlands.
The consideration for the acquisition comprises:
(i) An up-front cash payment of €4.7m
(ii) deferred cash consideration of €0.7m payable in January 2016; and
(iii) earn-out cash consideration of up to €2.0m dependent on the performance of the business over the period to 31 December 2016;
For the financial year ended 31 December 2013 Inatherm BV made a profit before tax of €0.6m. Gross assets were €1.8m as at 31 December 2013.
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This infill acquisition further strengthens the Group's position in the Mainland European air handling market, where it already has a significant presence through Air Trade Centre and Ouest Ventil.
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Inatherm BV is being sold by Triple R Holding, which is owned by the current management team who will remain with the business and join SIG.
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EnquiriesÂ
Stuart Mitchell, Chief Executive Doug Robertson, Finance Director Simon Bielecki, Head of Investor Relations  | SIG plc | 0114 285 6300  07515 794359 |
Richard Mountain / Nick Hasell | FTI Consulting | 020 3727 1340 Â |
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