Manufacturer makes £60m Irish acquisition
Listed Cheshire-based bathroom specialist Norcros has announced it is to acquire a shower enclosure manufacturer in a £60m deal.
The supplier of branded showers, taps, bathroom accessories, tiles and adhesives, says it will part fund the takeover of Merlyn Industries through a share placing, raising £31.4m, with the remainder funded from the group's new £120m debt facility.
Norcros said the transaction with Merlyn, which reported revenues of £30.7m and operating profit of £6.4m in the year to March 2017, was “strategica... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
