December 15, 2016 / 7:18 AM / a year ago

BRIEF-Troax buys Folding Guard in $25.8 million deal

Dec 15 (Reuters) - Troax Group AB (publ)

* Buys via subsidiary, Troax Inc., Folding Guard, a division within Leggett & Platt US

* Closing of transaction is set to end of December 2016

* Purchase price amounts to $25.8 million

* Second payment of maximum $2.2 million may be paid, if 12 month rolling EBITDA, as calculated in June 2017, exceeds $3.225 million

* Initial purchase price is financed by existing cash of about $4.9 million and via tap issue of $20.9 million under co’s existing bond loan

* Co’s net debt to EBITDA is seen to amount to 2.5 immediately following completion of deal

* Deal is seen to have immediate positive impact on Troax Group’s earnings per share

* Folding Guard is American manufacturer of indoor perimeter protection solutions Source text for Eikon: Further company coverage: (Gdynia Newsroom)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below