Wincanton has announced the agreed disposal of Records Management for an excellent strategic price of £60m (£55.7m net). This will further reduce debt levels and strengthen the balance sheet while allowing the new management team to focus on the core logistics business. With debt now likely to be below the 2x EBITDA management target, we expect discussions about the resumption of dividends to be back on the board agenda.
10 Nov 2015
Disposal creates value and increases the focus
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Disposal creates value and increases the focus
Wincanton has announced the agreed disposal of Records Management for an excellent strategic price of £60m (£55.7m net). This will further reduce debt levels and strengthen the balance sheet while allowing the new management team to focus on the core logistics business. With debt now likely to be below the 2x EBITDA management target, we expect discussions about the resumption of dividends to be back on the board agenda.