Sector News

Ansell to buy UK-based protective clothing maker Microgard

April 1, 2015
Life sciences
Glove and condom maker Ansell Limited will acquire UK-based protective clothing manufacturer Microgard for £59 million ($A113m).
 
Microgard has sales in more than 75 countries, a manufacturing facility in Xiamen, China and about 750 employees worldwide.
 
The company has grown rapidly, mainly in Europe, the Middle East and Africa, and in the Asia-Pacific region, with sales of about $US40m during calendar year 2014, Ansell said in a statement today.
 
Ansell (ANN) chief executive Magnus Nicolin said the acquisition was a critical step in building the company’s body protection operations, as part of its Industrial Global Business unit.
 
“Together with our current chemical protective glove range, we now have a world-class portfolio of chemical protection solutions, leveraging our strong global footprint,” he said.
 
Microgard supplies customers in the industrial, chemical, oil and gas and life science sectors and Mr Nicolin said the purchase would complement previous acquisitions that had expanded Ansell’s product range.
 
Ansell expects the acquisition, including all transaction costs, to be marginally dilutive to earnings per share in fiscal 2015 and to be accretive in fiscal 2016.
 
The purchase price is equivalent to a multiple of about nine times on trailing 12-months adjusted earnings before interest, tax, depreciation and amortisation, according to the company.
 
The deal is subject to German antitrust clearance and is expected to complete during the second quarter of the current calendar year.
 

comments closed

Related News

April 26, 2024

Former Bristol Myers CEO tapped as Novartis’ next board chair

Life sciences

Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.

April 26, 2024

GE HealthCare launches voice-activated, AI-powered ultrasound machines for women’s health

Life sciences

GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.

April 26, 2024

Scientists reveal new method that could reduce waste from drug manufacturing

Life sciences

Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.

How can we help you?

We're easy to reach