Flowtech has announced its fifth major acquisition and sixth in total this year. Group HES Ltd has been acquired to continue the build out the PMC division adding c. £10.0m in revenue. This follows the recent addition to the division of Hydraulic Group BV, the first acquisition by the current management team in mainland Europe. On a normalised basis, Flowtech has paid c.6x trailing EBITDA, in line with its stated strategy and other completed deals. The £4.1m consideration is being
12 Oct 2017
Further acquisition drives growth of PMC division
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Further acquisition drives growth of PMC division
Flowtech Fluidpower plc (FLO:LON) | 97.5 -0.1 (-0.1%) | Mkt Cap: 60.0m
- Published:
12 Oct 2017 -
Author:
Andy Hanson -
Pages:
7
Flowtech has announced its fifth major acquisition and sixth in total this year. Group HES Ltd has been acquired to continue the build out the PMC division adding c. £10.0m in revenue. This follows the recent addition to the division of Hydraulic Group BV, the first acquisition by the current management team in mainland Europe. On a normalised basis, Flowtech has paid c.6x trailing EBITDA, in line with its stated strategy and other completed deals. The £4.1m consideration is being