Porvair PLC Acquisition of Dahlman Industrial Group B.V. (3216L)

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RNS Number : 3216L

Porvair PLC

05 September 2019

For immediate release 5 September 2019

Porvair plc ("Porvair" or "The Group")

Acquisition of Dahlman Industrial Group B.V.

Porvair, the specialist filtration and environmental technologies group, is pleased to announce the acquisition of Dahlman Industrial Group B. V. ("Royal Dahlman"), a Dutch industrial filtration business, trading as Royal Dahlman, for a total cash consideration of EUR7.75 million.

The Group acquired 100 per cent of the share capital of Royal Dahlman, which reported revenue of EUR14.2 million in the year ended 31 December 2018.

Royal Dahlman is based in Maassluis and Elsloo and specialises in industrial filtration with particular expertise in petrochemical filtration engineering.

Royal Dahlman will continue to operate from its existing premises and will be integrated into the Group's Aerospace & Industrial division. It is expected to be earnings accretive following integration in 2020.

Commenting on the acquisition, Ben Stocks, Chief Executive, said:

Royal Dahlman brings engineering expertise in petrochemical emissions control applications where regulations are expected to tighten. It also has excellent routes to market in Benelux and Northern Europe for industrial filtration through which the combined business can offer a much wider product range. Royal Dahlman has a strong and experienced management team who will lead the Group's expansion in Europe.

Market Abuse Regime

The information contained within this announcement is deemed by Porvair to constitute inside information as stipulated under the Market Abuse Regulation. Upon the publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.

For more information, contact:

 
 Porvair plc 
 Ben Stocks, Chief Executive            01553 765 500 
 Chris Tyler, Group Finance Director    01553 765 500 
 
 Buchanan Communications                0207 466 5000 
 Charles Ryland /Stephanie Watson 
 

Notes to Editors

Porvair is a group of specialist filtration, separation and environmental technologies businesses. Its products are used in a range of niche filtration and separation markets, and are derived from its expertise in the design and manufacture of filtration and separation systems. It is organised into three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Quality.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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September 05, 2019 02:01 ET (06:01 GMT)