Aalberts announced the acquisition of 90% of the shares of German coatings company Galvanotechnik Baum, which has sales of € 21m per annum. The remaining 10% will be held by the former owner, who will remain active within the company. According to management, the deal will be accretive to EPS. The acquisition will add new technologies and services to the Aalberts group.
For more info on Baum: www.gtbaum.de
Nice acquisition, but impact should be modest:
The acquisition is relatively big for this particular segment. However, the impact on group sales is modest at around 1% on an annualized basis. Hence, it will have no major impact on our estimates and investment case.