Low & Bonar to acquire Texiplast

摘要

UK-based Low & Bonar is to acquire Texiplast, a Slovakian producer of high strength geosynthetic products serving the civil engineering market, for a net cash payment of approximately €18.9m (£16.0m) on a debt-free basis. Texiplast, founded in 1938, is a manufacturer of soil reinforcement, separation, filtration and erosion control products using knitting, weaving and impregnation technologies. For the year ended 31 December 2012, the company generated revenues of €12.7m and EBITDA of €3.1m. It has one manufacturing plant in Ivanka pri Nitre, near Bratislava, Slovakia, where it employs around 80 people on a full-time basis, with spare capacity to support future growth. Texiplast operates predominantly in Eastern European markets, and primarily through non-exclusive distribution. Its product range is mostly composed of technical products which require design support to sell as solutions in projects.