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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Rotork plc    ROR   GB00BVFNZH21

ROTORK PLC

(ROR)
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Rotork l c : 04/08/2015 Acquisition

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08/04/2015 | 04:36am EDT

4 August 2015

Rotork plc

Acquisition

Rotork p.l.c. ("Rotork"), the market-leading actuator manufacturer and flow control company, today announces the acquisition of M&M International Srl ("M&M"), a subsidiary of Spirax-Sarco Engineering plc.

M&M, based in Bergamo, Italy, is a leading manufacturer of solenoid valves, piston actuated valves and automatic drain valves for use in commercial and industrial flow control industries.

The enterprise value of the acquisition is €9.7 million payable in cash. The purchase will be funded from existing committed bank facilities. In 2014, based on audited accounts, M&M generated operating profit of €1.5 million on turnover of €8.9 million.

M&M will sit within the Rotork Instruments division.

Commenting on the acquisition, Peter France, Chief Executive, said:

"M&M is an excellent addition to our Instruments division which will complement Rotork Midland and provide a focal point for solenoid valve and piston actuated valve manufacturing within the Group. This acquisition supports our strategy of broadening our product portfolio and expanding our addressable markets, and we look forward to leveraging our global sales network to support the growth of M+M as part of Rotork."

For further information, please contact:

Rotork p.l.c.

Tel: 01225 733200

Peter France, Chief Executive

Jonathan Davis, Finance Director

FTI Consulting

Tel: 020 3727 1340

Nick Hasell / Susanne Yule


This information is provided by RNS
The company news service from the London Stock Exchange
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Sales 2020 604 M 790 M 790 M
Net income 2020 84,2 M 110 M 110 M
Net cash 2020 151 M 197 M 197 M
P/E ratio 2020 34,1x
Yield 2020 1,79%
Capitalization 2 849 M 3 727 M 3 722 M
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EV / Sales 2021 4,16x
Nbr of Employees 3 686
Free-Float 99,5%
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Mean consensus HOLD
Number of Analysts 21
Average target price 288,32 GBX
Last Close Price 3,27 GBX
Spread / Highest target 10 457%
Spread / Average Target 8 723%
Spread / Lowest Target 6 938%
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Managers
NameTitle
Kevin George Hostetler Chief Executive Officer & Executive Director
Martin James Lamb Non-Executive Chairman
Grant Hunter Wood Operations Director
Jonathan Mark Davis Group Finance Director & Executive Director
Paul Burke Chief Information Officer
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