Luxembourg, 29 July 2016. Yesterday Braas Monier closed the acquisition of Ontop B.V., a well-established European manufacturer of stainless steel flue systems, with end-product applications ranging from industrial bakery ovens, diesel and gas engines, boilers, fire places and stoves. The Enterprise Value (EV) of Ontop, determined on the basis of 2015 figures reported, amounts to EUR 15.2 million, including net debt of EUR 3.6 million and additional cost of approx. EUR 1 million related to the acquisition and the generation of the expected synergies. For 2015, Ontop reported revenues of EUR 21.7 million and an Operating EBITDA of EUR 2.2 million. Including substantial synergies, which Management believes to achieve within the next three years, EV / EBITDA is expected to reach approx. 5x.
About Braas Monier
Braas Monier Building Group is a leading manufacturer and supplier of pitched roof products in Europe, parts of Asia and South Africa. The Group covers all steps of the manufacturing process, offering a comprehensive range of concrete and clay tiles for pitched roofs and is one of the few suppliers to also manufacture and sell complementary roofing components designed to cover various functional aspects of pitched roof construction. The portfolio also includes ceramic and steel chimneys and energy system solutions. Braas Monier had operations in 36 countries and 118 production facilities and employed around 7,700 people as at 30 June 2016. The Company is headquartered in Luxembourg.
Director Group Communications / Investor Relations
Braas Monier Building Group