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Electrocomponents to acquire Synovos and Needlers for combined £150 million
StockMarketWire.com
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Electrocomponents said it had reached an agreement to acquire Synovos, integrated supply solutions in the Americas, and had acquired Needlers, a UK provider of safety products and PPE, for a combined sum of £150 million.
The acquisition of Synovos, for about £110 million, would accelerate the ocmpany's delivery integrated supply offering, while the acquisition of Needlers, for £40 million, would expand products and solutions in the its safety, hygiene and personal protective equipment, or PPE, product category.
The company said would riase £180 million via the placing of 5% of its shares to fund acquisitions and retain financial flexibility.
At 8:29am: (LON:ECM) Electrocomponents PLC share price was 0p at 814p
Story provided by StockMarketWire.com
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