DGAP-News: Braas Monier Building Group S.A. / Key word(s): Mergers & Acquisitions
Braas Monier closes acquisition of Ontop B.V. (Ontop), a European manufacturer of steel chimneys
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.
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|