DGAP-News: Braas Monier Building Group S.A. / Key word(s): Mergers & Acquisitions
Braas Monier signs agreement to acquire Ontop B.V. (Ontop), a European manufacturer of steel chimneys
- European manufacturer with operations in the Netherlands, Poland, Germany and France
- Acquisition to complement Braas Monier's existing product mix, brand portfolio and geographical footprint
- Disciplined M&A strategy to support the Group's ability to generate profitable growth and to further increase the value of the business
Luxembourg, 21 July 2016. Braas Monier today signed an agreement to acquire 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. Ontop, headquartered in Middelburg, the Netherlands, serves the European market with one production location each in the Netherlands and Poland, a distribution centre in Germany and a sales office in France. With over 50 years of experience, Ontop strives for high quality standards, sophisticated logistic solutions, innovation power and high product composition flexibility. Its strategy to accelerate future growth is based on a clear differentiating proposition with a focus on quality instead of volume, and on new sustainable-energy markets.
The Enterprise Value (EV) of Ontop, determined on the basis of 2015 reported figures, 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
The acquisition is expected to close over the coming weeks.
"With the agreed acquisition of Ontop we further extend our European leadership position in Chimneys & Energy Systems. The envisaged acquisition complements our existing product mix and geographical footprint, which we believe will deliver sizeable synergies. Following the acquisition of JA Plast in January and of a concrete tile plant in South Africa in May, this is our third bolt-on acquisition this year and the seventh within the last 19 months. We believe that our disciplined M&A strategy supports our ability to generate profitable growth and to further increase the value of our business", says Pierre-Marie De Leener, CEO and Chairman of the Board of Directors of Braas Monier Building Group S.A.
For further information, please visit our website at www.braas-monier.com > Investor Relations.
About Braas Monier
|Company:||Braas Monier Building Group S.A.|
|4, rue Lou Hemmer|
|Grand Duchy of Luxembourg|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|