Elanders AB (OM:ELAN B) completed the acquisition of Kammac Limited
November 29, 2023
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Elanders AB (publ) (OM:ELAN B) signed an agreement to acquire Kammac Limited on November 8, 2023.The purchase price will be paid in two parts, one at the time of the takeover and the other as an earn-out in 2025. The initial valuation, including the earn-out, amounts to just over £100 million on a cash- and debt-free basis, of which around two thirds will affect cash flow negatively in the fourth quarter 2023. The earn-out will be paid during the second quarter 2025 and is based on the outcome of 2024. The acquisition is mainly financed with existing credit facilities and the acquisition costs are expected to be approximately £1.49 million. During the last twelve-month period, Kammac had net sales of more than £90 million with very good profitability. The company will be consolidated into the Elanders Group as of November 2023. Oliver Duke, Dan O?Gorman and Kayleigh Watson of Walker Morris LLP acted as legal advisor to Elanders AB.
Elanders AB (publ) (OM:ELAN B) completed the acquisition of Kammac Limited on November 30, 2023.
Elanders AB is a Sweden-based supplier with a broad range of services of integrated solutions in supply chain management. The Companyâs business activities are divided into two segments: Supply Chain Solutions and Print & Packaging Solutions. The Supply Chain Solutions segment includes supply chain solutions, such us procurement, warehousing, configuration, production and distribution, as well as order management, payment solutions and after sales services. The Print & Packaging Solutions offers print, freight and packing services, as well as sells photo products through its own brands fotokasten and myphotobook. The Company operates in around 20 countries, such as China, Singapore, Germany, the United Kingdom, Sweden and the United States, among others. Its main customers are active in the areas Automotive, Electronics, Fashion & Lifestyle, Industrial and Health Care & Life Science.