Avon Rubber has acquired a thermal imaging camera business, Argus, to enhance its existing product offer for the fire
and first responder market. The business has been acquired from E2V technologies plc for £3.5m in cash, which suggests an attractive acquisition multiple of c.0.7x sales for an operation generating a low teen operating margin. We anticipate modest earnings enhancement of c.1-2% for FY16, the first year of ownership.
09 Oct 2015
Bolt-on acquisition for fire and first responder markets
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Bolt-on acquisition for fire and first responder markets
Avon Protection PLC (AVON:LON) | 1,237 519.5 3.5% | Mkt Cap: 374.3m
- Published:
09 Oct 2015 -
Author:
Jo Reedman -
Pages:
3
Avon Rubber has acquired a thermal imaging camera business, Argus, to enhance its existing product offer for the fire
and first responder market. The business has been acquired from E2V technologies plc for £3.5m in cash, which suggests an attractive acquisition multiple of c.0.7x sales for an operation generating a low teen operating margin. We anticipate modest earnings enhancement of c.1-2% for FY16, the first year of ownership.