Auburn FilterSense LLC holds several decades of experience and application knowledge from more than 75,000 units and installations sold, bringing technology and support to help customers worldwide reduce emissions and improve operations. The company manufactures continuous particulate monitors incorporating triboelectric and charge induction particulate sensing technologies, intelligent controls, including real-time diagnostics and software for filter leak detectors, for process control, maintenance planning, regulatory compliance and increased production efficiency.
The acquisition price on a cash and debt free basis, amounting to approximately USD 5.75 million, will be paid on completion of the acquisition which is expected to be in early April 2018, with a potential maximum earn-out payment of USD 2.5 million based on profitability for 2018 and 2019, and is funded by a combination of cash and existing bank facilities.
Auburn FilterSense LLC, with approximately 30 employees, had a turnover in 2017 of USD 6.2 million. The acquired business has an EBITDA margin in line with that of the Nederman Group and is expected to have a positive impact on earnings per share from the date of acquisition completion.
Auburn FilterSense LLC will be part of Nederman’s Insight organization. The Auburn FilterSense LLC brand and team will continue to operate as before and the solutions will become an integrated part of the Nederman Insight application and digital ecosystem, building on connectivity and Internet of Things.
“We are delighted to welcome Auburn FilterSense LLC to our Insight organization and to becoming part of our digital ambitions and plans,” says Aage Snorgaard, Senior Vice President, Head of Division Nederman Insight.
“There is an excellent strategic fit between Nederman and Auburn FilterSense. We see strong complemen-tary value in combining Nederman’s solutions, global presence and customer base and aftermarket services with the technology and advanced capabilities of Auburn FilterSense. With this acquisition, Nederman becomes an even stronger partner for our customers,” says President and CEO, Sven Kristensson.
|For further information, please contact:
|Sven Kristensson, CEO
||Matthew Cusick, CFO
|Telephone: +46 42 18 87 00
||Telephone +46 42 18 87 00
This information is information that Nederman Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16:00 p.m. CET on March 28, 2018
Facts about Nederman
The Nederman Group is a world-leading supplier and developer of products and solutions within the environmental technology sector. We filter, clean and recycle in demanding industrial environments. Clean air is a cornerstone for sustainable production and Nederman’s products and solutions improve production efficiency, reduce environmental impact and protect employees from harmful dust, smoke and fumes. The Nederman Group is listed on Nasdaq Stockholm. The Group has 1800 employees and presence in more than 50 countries. Learn more at nedermangroup.com
Press release (PDF)
Nederman Holding AB (publ), P.O. Box 602, SE-251 06 Helsingborg, Sweden.
Corporate registration number: 556576-4205