Essentra Acquires Wixroyd

Essentra plc announced the acquisition of Wixroyd Holdings Limited, the UK supplier of industrial parts for the engineering sector, for an initial consideration of 29.5 million pounds and up to 7.0 million pounds deferred earn-out consideration on a cash-free, debt-free basis.

The acquisition is expected to be accretive to adjusted earnings per share in the first full year of ownership.

The company expects a similar EBITDA performance in 2023 given the macro-economic environment. The deferred earn-out consideration is conditional on achieving certain performance criteria for the 12 month period commencing 1 January 2023, which would exceed the base case.

The company expects revenue and purchasing synergies arising from the acquisition to materially benefit performance from 2024 onwards.

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