logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Health insurer Humana Inc. reported Wednesday a net loss for the fourth quarter that slightly widened from last year, hurt primarily by charges associated with productivity initiatives, despite 6.6 percent revenue growth. Adjusted earnings for the quarter topped analysts' expectations, while quarterly revenues missed it by a whisker. South Plainfield, New Jersey-based Two Rivers Coffee is recalling its peanut butter single serve hot chocolate pods citing an undeclared peanut allergen, the U.S. Food Drug Administration said. The recall involves peanut butter single serve hot chocolate pods distributed as "Brooklyn Bean Peanut Butter Cup Hot Cocoa", "Pingo Peanut Butter Cookie Hot Chocolate" and ... Shares of Novartis AG were losing around 2 percent in the early morning trading in Switzerland after the drug major reported Wednesday sharply lower profit in its fourth quarter with weak sales as well as the absence of prior year's hefty Roche income. Adjusted earnings, however, topped market estimates, while top line missed their view. Further, the company announced higher dividend...
Follow RTT