Hexpol acquires UK rubber compounder Berwin Group

Hexpol acquires UK rubber compounder Berwin Group

5:30 AM, 4th June 2016
Hexpol acquires UK rubber compounder Berwin Group

STOCKHOLM, SWEDEN: Hexpol Group has acquired all the shares of UK’s rubber compounder, Berwin Group Ltd.

Berwin Group with manufacturing facilities in Manchester and Gloucestershire (UK) has an estimated annual turnover of around 40 MGBP and has around 200 employees. The acquired business has an EBITDA margin below the Hexpol Group but is expected to have a positive impact on earnings per share.

The acquisition price is estimated to approximately 25 MGBP on a cash and debt free basis and has been funded by a combination of cash and existing bank facilities.

"The acquisition is a very good complement to Hexpol Compounding in Europe and broadens and strengthens our presence with rubber compounds in the UK market. Berwin expands our capabilities and capacities to serve our customers in a more efficient way," said Ralph Wolkener, president Hexpol Compounding Europe.

"This is a further step in expanding and strengthening the Hexpol Group with a further acquisition within our core business. Berwin, with its competence and capabilities, will fit nicely into the Hexpol Group and gives us a stronger UK presence," said Georg Brunstam, CEO, Hexpol Group.

 

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