Cheese and butter manufacturer Dairy Crest has agreed to be taken over by Canadian dairy processor Saputo in a deal worth £975m or 620p per share.
APC Technology Group said Friday it was 'pleased' with the start to the new financial year and confirmed that it continued to trade within management expectations.
Infrastructure product supplier Hill & Smith said Friday it had completed the acquisition of ATG Access from LDC and private shareholders for £22.5m. Based in the UK and exporting to over 30 countries, ATG specialised in the supply of hostile vehicle mitigation perimeter security solutions including bollards, road blockers, barriers and gates. For the 12 months to 31 October 2018, ATG recorded turnover of £21.1m, adjusted earnings (EBITDA) of £2.5m, and had net operating assets, on a debt and cash free basis, of £0.6m. The acquisition was expected to be earnings enhancing to the group in the first full financial year following acquisition. 'ATG provides high security and traffic management solutions and is the UK's leading manufacturer of bollards, road blockers and vehicle barrier systems,' said Derek Muir, Group Chief Executive. 'The acquisition provides the Group with a strong platform to introduce new products and new geographies, thereby accelerating the expansion of both our existing UK and international roads businesses. We are excited to welcome ATG and its employees to the Group.' The group also announced that in January it amended and extended its principal debt facility, extending the term to January 2024 and increasing the tenor by £50m to about £280m, with no material impact on costs. This change would provide the group with 'extended certainty of funding and further increased the headroom available to the group in order to pursue growth opportunities,' the company said.