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Essentra - Acquires Clondalkin for US$455m

December 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • ESNT
  • Price:
  • 748p
Essentra, which makes small components from plastic, fibre and foam, has announced the US$455m (£284m) acquisition of Clondalkin, a leading global provider of speciality packaging for the pharmaceutical and health  care industries, part funded by a placing of new shares (10% of the share capital), which raised £169m.Clondalkin, which operates 24 facilities in North America and Europe, marks the second major foray into the growing healthcare segment following the £160m purchase of Contego in 2013. For the year ended 31 December, Clondalkin generated revenue of US$429m, EBITDA of US$55.5m and operating profit of US$37.2m, while synergies will be at least US$16m in 2016.Earlier, Essentra announced a strong ...

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