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LUCE Luceco Plc

177.00
-5.20 (-2.85%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Luceco Plc LSE:LUCE London Ordinary Share GB00BZC0LP49 ORD GBP0.0005
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.20 -2.85% 177.00 175.60 177.40 180.00 175.00 179.80 172,176 16:35:26
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Comml, Indl Elec Light Fixtr 206.3M 11M 0.0684 25.94 285.26M

Luceco PLC Acquisition

01/03/2024 7:00am

RNS Regulatory News


RNS Number : 0678F
Luceco PLC
01 March 2024
 

1 March 2024                                                                                                                                                                                           

 

LUCECO PLC - ACQUISITION OF D-LINE

Luceco plc ("Luceco" or the "Company"), the supplier of wiring accessories, EV chargers, LED lighting, and portable power products, has acquired the entire issued share capital of D-Line (Europe) Limited ("D-Line"), the supplier of cable management solutions, from sellers including the founder for initial cash consideration of £8.6m (the "Initial Consideration") and up to £3.8m of contingent consideration (the "Contingent Consideration"), on a cash and debt-free basis (the "Acquisition").

D-Line, headquartered in Tyne & Wear in the UK, designs and supplies a range of innovative cable management solutions, including decorative cable trunking and accessories, fire-rated cable supports, floor cable protectors and cable organisers.  It employs approximately 60 people and supplies retail, wholesale and eCommerce customers mainly in the UK, Europe and North America.  The business supports its customers in North America from a sales and distribution facility in Kentucky, USA. 

The purchase price is subject to a closing cash, debt and working capital adjustment.  The Initial Consideration has been funded from Luceco's existing debt facilities.  The Contingent Consideration consists of up to £3.0m subject to achieving a transformational new business win; and up to £0.8m subject to the extent to which certain working capital balances crystallise.

For the unaudited 12 month period ended 30 November 2023 D-Line generated revenue of £17.0m and underlying operating profit of £1.4m.  Gross assets at the end of the period were £8.1m.  The Acquisition is expected to be earnings enhancing, achieving an operating margin consistent with that of the Company, in its first full year of ownership.

The business will continue to operate from its existing locations and the senior management team will remain with the business post-acquisition.

John Hornby, Chief Executive Officer of Luceco commented:

"D-Line's product range is a natural fit alongside our existing categories.  The business has developed a strong brand in the UK and internationally, and we are particularly excited about the opportunity to leverage D-Line's operation in North America to support our growing business in the territory."

 

Luceco plc

Contact

John Hornby, Chief Executive Officer

020 3128 8100 (Via MHP)

Will Hoy, Chief Financial Officer

020 3128 8100 (Via MHP)



MHP

Contact

Tim Rowntree

020 3128 8100

Ollie Hoare

07817 458 804

 

 

Note to Editors

 

Luceco plc - Bringing Power To Life

 

Luceco plc (LSE:LUCE) is a supplier of wiring accessories, EV chargers, LED lighting, and portable power products.

 

For more information, please visit www.lucecoplc.com.

 

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