Troax Group completes acquisition of Folding Guard
Press release, Hillerstorp 29 December 2016, 16.00 CET
On 15 December 2016, Troax Group announced the acquisition of Folding Guard, a division within Leggett & Platt US. The acquisition has now been completed.
The acquisition of Folding Guard is made through Troax Group’s wholly-owned subsidiary Troax Inc. The purchase price of USD 25.8 million has been paid and Folding Guard will, as of today, be included in Troax Group’s financial figures. The purchase price is subject to adjustments during a period of maximum 120 days based on revised calculations, by both parties, of the closing balance statement. A second payment of maximum USD 2.2 million may be paid, if the 12 month rolling EBITDA, as calculated in June 2017, exceeds USD 3.225 million. The acquisition has been financed through existing cash and a tap issue under the company’s existing bond loan.
For additional information contact:
Thomas Widstrand, CEO
This information is information that Troax Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16.00 CET on 29 December 2016.
More information about the company is available on www.troax.com.
Thomas Widstrand
President and CEO
Troax Group AB
Box 89
330 33 Hillerstorp
Sweden
Tel 46 (0)370-82831
thomas.widstrand@troax.com
About Troax
Troax is the leading global supplier of indoor perimeter protection (“metal-based mesh panel solutions”) for the market segments: Machine guarding, Warehouse partitioning and Property Protection. Troax develops high quality and innovative safety solutions to protect people, property and processes.
Troax Group AB (publ), Reg. No. 556916-4030, has a global organisation with an unparalleled sales force and efficient logistics setup, enabling local presence and short delivery times in 33 countries.
In 2015 Troax net sales amounted to 103 MEUR and the number of employees amounted to 440 persons. The Company’s head office is located in Hillerstorp, Sweden.
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