Absolent Group acquires DCS Group of Companies in the UK
Absolent Group AB - a global environmental technology group providing clean air solutions for industrial process air- has through its UK based subsidiary Filtermist International, acquired the DCS Group of Companies ("DCS"). The privately held Group, with a consolidated turnover of GBP 11,4 million (ca. SEK 136 million) consists of Dust Control Systems Ltd, Ecogate Ltd, Gallito Ltd, Cades Ltd and LEV Direct Ltd.
The group, which was founded in 1988, collectively acts as a designer, supplier, installer and commissioner of fume and dust extraction systems. In addition to that, the group manufactures FastClip Ductwork and energy management systems for fume and dust extraction systems.
DCS Limited & Cades Limited both enjoy established reputations for providing quality dust extraction systems for customers in a number of industries, including pharmaceutical, food and beverage, engineering and woodworking.
The DCS business assets also include Ecogate Limited and Gallito Limited which between them manufacture a range of industry-associated products including Fastclip ducting and microprocessor-controlled extraction optimization systems designed to improve extraction efficiency.
This acquisition will significantly enhance Absolent Group's presence in the dust and fume extraction market. DCS's service offering is currently limited to the UK, however, bringing these products into the Absolent Group provides an opportunity to expand the brands' presence to overseas markets, utilising the global experience of Absolent Group's worldwide distributor and subsidiary network whilst creating valuable synergies within the group.
DCS had a consolidated turnover of GBP 11,4 million during 2018 and have an expected consolidated EBITDA margin of 13%. The acquisition price is GBP 6,6 million. DCS will with immediate effect be integrated and consolidated into Absolent Group. The acquisition is financed by cash and is expected to have a positive impact on the earnings per share.
Lidköping January 31 2019
Further information:
Axel Berntsson, President and CEO: +46 510 - 484000
Absolent Group AB is listed on Nasdaq First North Stockholm.
Certified Adviser for Absolent Group AB is Erik Penser Bank, +46 8 - 4638300
Email: [email protected]
This information is information that Absolent Group AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 10:50 a.m. CET on January 31, 2019.
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