EANS-News: Balda AG / Balda creates a production base in the world's largest
market for medical products through US acquisition (with document)
Geschrieben am 21-12-2012 |
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
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Mergers - Acquisitions - Takeovers
Bad Oeynhausen (euro adhoc) - PRESS RELEASE
Balda creates a production base in the world's largest market for
medical products through US acquisition
- Acquisition of California-based C. Brewer Company agreed upon
- Strongly-performing specialist with an excellent reputation among
customers in the medical sector and beyond
- Consistent implementation of the Balda Group's defined growth strategy
Bad Oeynhausen, December 21, 2012 - Balda is consistently implementing the
growth strategy set out in the first half of this year through the
acquisition of a US company. The manufacturer of high-quality plastic
products for the medical and electronics industries has agreed to
purchase 100 percent of the shares in C. Brewer Company, Anaheim,
California, effective as of December 31, 2012. The acquisition
strengthens Balda's medical business, in line with the buy-and-build
strategy laid out for this business segment.
About C. Brewer Co. The C. Brewer Company specializes in precision
injection-molded plastics and the associated molds. The company
develops and manufactures solutions for customers from the medical
and optical industries in particular, but also from automotive and
electronics industries. C. Brewer Co. is a single-source systems
partner for the entire injection molding process. The company is
increasingly focused on the production of plastic parts for highly
specialized applications in the areas of medical technology and
diagnostics.
C. Brewer Co. expects revenues of around USD 48 million (approx. EUR
37 million) for the calendar year 2012, along with clearly positive
operating earnings (EBITDA). Around one-third of its revenues come
from medical clients, with 50 percent coming from optics. The company
was founded in 1966 and is led by the second generation of its family
owners. It operates at three locations in California (Anaheim, Irvine
and Ontario), employing around 500 people, and has all the relevant
medical product certifications.
Further details about the transactions
- The purchase price for the acquisition totals around EUR 33 million,
including the performance-related earn-out clause of EUR 3.8 million.
- The purchase price is based on a multiple of less than 7 times the
expected adjusted EBITDA in 2012. The purchase will fully be financed with
the existing liquidity of the Balda Group. The vendors are the family of
the founders.
- The purchase is part of the buy-and-build strategy for the medical
segment. The goals are increased internationalization, expansion of the
company's range of services and of its value chain, as well as attracting
new customers.
- M&A International Inc. with its partner firms Angermann M&A International
GmbH and Masi Ltd. acted as M&A advisor for Balda in this transaction.
Dominik Müser, CEO of Balda AG: "The USA is the largest healthcare
market in the world. Therefore, it is of fundamental importance for
the development of our group to have a presence there with our own
production locations. With the purchase of C. Brewer we have acquired
a injection-molded plastics specialist with well established
customer relationships that display a high degree of trust. The
company is located in California's medical valley with a particularly
high density of healthcare customers. This gives Balda an excellent
base for expansion in the USA."
About Balda Balda is a producer of high-quality plastics solutions
for the medical technology and electronics markets. The company
provides superior engineering services, products of the highest
quality as well as a fast, flexible and tailored service for its
customers. The Balda Medical segment in Bad Oeynhausen develops and
produces high-quality plastics solutions for the medical technology,
pharmaceutical and diagnostics markets. The Balda Group generated
revenues of EUR 24.7 million in the short financial year 2012 (1
January to 30 June 2012) compared to EUR 66.3 million in calendar
year 2011. The Balda share (ISIN: DE0005215107) is listed on the SDAX
segment of Deutsche Börse.
www.balda.de
www.balda-medical.de
Attachments with Announcement:
----------------------------------------------
http://resources.euroadhoc.com/us/9Ge4jSo0
http://resources.euroadhoc.com/us/SiYPoH2a
Further inquiry note:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Tel.: +49 - 54 04 - 91 92 0
Fax: +49 - 54 04 - 91 92 29
Mail:{office@elsner-kommunikation.de}[HYPERLINK:
mailto:office@elsner-kommunikation.de]
end of announcement euro adhoc
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Attachments with Announcement:
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http://resources.euroadhoc.com/us/9Ge4jSo0
http://resources.euroadhoc.com/us/SiYPoH2a
company: Balda AG
Bergkirchener Str. 228
D-32549 Bad Oeynhausen
phone: +49 (0) 5734 9 22-0
FAX: +49 (0) 5734 922-2747
mail: info@balda.de
WWW: http://www.balda.de
sector: Semiconductors & active components
ISIN: DE0005215107
indexes: CDAX, Prime All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English
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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
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