ERJ staff report (DS)
Stockholm, Sweden -- Hexpol has acquired US rubber compounding specialist, Robbins Holdings, Inc. including Robbins LLC. Robbins is a global leader in moulded envelopes and curing tubes for especially truck, heavy equipment and airplane tyres.
Robbins has an estimated annual turnover of approximately 100 MUSD with around 240 employees and has three production facilities in the US; Muscle Shoals, AL, Findlay, OH and Tallapoosa, Georgia.
The acquired business has an EBITDA margin slightly lower than the Hexpol Group and is expected to have a positive impact on earnings per share from the start. The acquisition price amounts to 89.2 MUSD on a debt free basis, and is funded by a combination of cash and existing bank loans. Integration and transaction cost of 15-20 MSEK will be charged in Q4 2012. Robbins will be consolidated from December 2012.
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Press release from Hexpol