Renold plc (AIM:RNO) acquired Industrias YUK S.A. for €24 million on August 4, 2022. Industrias YUK is being acquired, subject to normal completion accounts adjustments, on a cash free, debt free basis, and will consist of an initial cash consideration of €20.0 million, followed by two further cash payments of €2.0 million each, payable 12 months and 24 months from the date of completion of the Acquisition. The Acquisition will be funded utilising the Group's existing borrowing facilities. The total consideration for the Acquisition of €24.0 million represents an acquisition multiple of c. 7.6x June 2022 LTM EBITDA. Industrias YUK delivered revenue of €18.6m for the 12 month period ended June 2022, generating an EBITDA of €3.1m million. Industrias YUK management team will join Renold's European management team and continue to lead Industrias YUK. The Acquisition is expected to be immediately enhancing to Group earnings per share, as well as accretive to the Group's operating margin. Mike Bell and Ed Allsopp of Peel Hunt LLP acted as nominated adviser to Renold.

Renold plc (AIM:RNO) completed the acquisition of Industrias YUK S.A. on August 4, 2022.