Acal to acquire Trafo Holding
Norway, Hokksund: Acal Plc. has entered into a conditional agreement to acquire Trafo Holding AS, trading as Noratel, based on an enterprise value of NOK 735 million ($ 122.9 million) on a debt free basis.
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Norway, Hokksund: Acal Plc. has entered into a conditional agreement to acquire Trafo Holding AS, trading as Noratel, based on an enterprise value of NOK 735 million ($ 122.9 million) on a debt free basis.
Noratel, headquartered in Norway designs and manufactures electromagnetic products, specifically low, medium and high power transformers and chokes.
The acquisition is a significant step forward in the group’s stated growth strategy, reports RTT News. The initial cash consideration for the acquisition of NOK 291.9 million ($ 48.8 million) will be met in part from the proceeds from the rights issue, which will also be used to repay part of Noratel’s existing debt.
The acquisition is expected to be immediately significantly accretive to underlying earnings per share, taking into account the issue of the rights issue shares but excluding any cost or benefits from potential operational efficiencies arising from the acquisition.
Source: RTT News
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