Ansell Limited (ASX:ANN), a global leader in protective solutions, today announced an agreement to purchase the Trelleborg Protective Products (TPP) business from The Trelleborg Group of Sweden (STO:TRELB).
TPP has annual sales of around EUR 19 million (~US$25 million) and approximately 170 employees. The business is headquartered in Trelleborg, has a plant in Lithuania and sales offices in Sweden, Norway, Russia, Dubai, Singapore, China and the United States. TPP provides high end chemical protective suits, professional dry diving suits, escape hoods, medical patient care and tents/shelters to First Responders, Military, Aerospace and Industrial customers. Approximately two-thirds of its global sales come from Europe and its major brands are Trellchem and Viking.
Ansell’s CEO, Magnus Nicolin commented “This business fits nicely with our Specialty Markets and Industrial GBU’s and Ansell’s strategy of expanding into selected adjacencies within the Personal Protective Equipment (PPE) space. As a leading organisation in its field, with strong brands and high end products, TPP offers Ansell growth synergies in our target verticals with complementary technologies, sales forces and distribution capabilities”.
The purchase price is EUR 23.7 million (~US$32 million) and this acquisition is anticipated to be earnings per share neutral in F’12 and accretive from F’13 onwards. Ansell expects to finalize the transaction in the current quarter.