| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
DiscoverIE to acquire Limitor for up to €18 million
StockMarketWire.com
|
Customised electronics maker DiscoverIE said it had acquired Limitor GmbH for up to €18 million.
The deal to acquire Limitor - a designer and manufacturer of thermal safety components and sensors - would require regulatory approvals, the company said.
Under the terms of the deal, the company paid an initial €14.5m and agreed to a contingent payment of up to €3.5m will should Limitor achieve certain profit growth targets over the next three years.
'Limitor will be acquired from its three joint shareholders and managing directors, Mr A. Rudolph, Mr A. Fischer and Mr U. Angermaier,' the company said.
'Mr Rudolph, the sales director and Mr Fischer, the production director, will continue in their roles while Mr Angermaier, the finance director, plans to retire following a period of transition,' it added.
The deal would raise group's gearing to 1.45x from 1.2x, remaining below its long term target range of between 1.5 and 2.0x, the company said.
Story provided by StockMarketWire.com
|
|
|
|
|
|
