Porvair PLC Acquisitions (3279Y)

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RNS Number : 3279Y

Porvair PLC

04 May 2023

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 8,000m(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 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.

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 
  / Harry Swinburne 
 

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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May 04, 2023 02:00 ET (06:00 GMT)