The acquisition price is estimated to approximately 19 MEUR on a cash and debt free basis and is funded by a combination of cash and existing bank facilities. The acquisition price will be paid upon completion of the acquisition which is estimated to take place during the fourth quarter after regulatory approvals. Acquisition and integration costs are expected to be reported in Q4-2014.
Vigar Rubber Compounding, with manufacturing facilities in Rubi, Spain and Viersen, Germany, had a turnover of 57 MEUR in 2013 and has 134 employees (Spain 88, Germany 46).The acquired business has a positive Ebitda margin well below the Hexpol group and is expected to have an insignificant impact on earnings per share.
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