Porvair PLC Acquisition completion (1049G)

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RNS Number : 1049G

Porvair PLC

17 July 2023

FOR IMMEDIATE RELEASE 17 July 2023

Porvair plc

("Porvair" or the "Group" or the "Company")

Acquisition completion

Porvair plc ("Porvair" or the "Group"), the specialist filtration, laboratory and environmental technology group, announces that on 14 July 2023 it completed its acquisition of 100% of the issued share capital of two businesses, Ratiolab GmbH and Ratiolab Kft. (together "Ratiolab"), following receipt of Hungarian regulatory approval.

As previously announced, 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 8,000m(2) facility, the freehold of which is included in the acquisition. Ratiolab has annual external revenues of around EUR12 million. The transaction is expected to be earnings neutral (after acquisition costs) in 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.

For further information, please contact:

 
 Porvair plc                             01553 765 500 
 Ben Stocks, Group Chief Executive 
  James Mills, Group Finance Director 
 
 Buchanan Communications                 0207 466 5000 
 Charles Ryland / Simon Compton 
  / Jack Devoy 
 

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.

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July 17, 2023 02:00 ET (06:00 GMT)